The Commission shall have the powers and functions provided by the Securities Regulation Code, Presidential Decree No. 902-A, as amended, the Corporation Code, the Investment Houses Law, the Financing Company Act, and other existing laws.

Under Section 5 of the Securities Regulation Code, Rep. Act. 8799, the Commission shall have, among others, the following powers and functions:

(a) Have jurisdiction and supervision over all corporations, partnerships or associations who are the grantees of primary franchises and/or a license or permit issued by the Government;

(b) Formulate policies and recommendations on issues concerning the securities market, advise Congress and other government agencies on all aspects of the securities market and propose legislation and amendments thereto;

(c) Approve, reject, suspend, revoke or require amendments to registration statements, and registration and licensing applications;

(d) Regulate, investigate or supervise the activities of persons to ensure compliance;

(e) Supervise, monitor, suspend or take over the activities of exchanges, clearing agencies and other SROs;

(f) Impose sanctions for the violation of laws and the rules, regulations and orders issued pursuant thereto;

(g) Prepare, approve, amend or repeal rules, regulations and orders, and issue opinions and provide guidance on and supervise compliance with such rules, regulations and orders;

(h) Enlist the aid and support of and/or deputize any and all enforcement agencies of the Government, civil or military as well as any private institution, corporation, firm, association or person in the implementation of its powers and functions under this Code;

(i) Issue cease and desist orders to prevent fraud or injury to the investing public;

(j) Punish for contempt of the Commission, both direct and indirect, in accordance with the pertinent provisions of and penalties prescribed by the Rules of Court;

(k) Compel the officers of any registered corporation or association to call meetings of stockholders or members thereof under its supervision;

(l) Issue subpoena duces tecum and summon witnesses to appear in any proceedings of the Commission and in appropriate cases, order the examination, search and seizure of all documents, papers, files and records, tax returns, and books of accounts of any entity or person under investigation as may be necessary for the proper disposition of the cases before it, subject to the provisions of existing laws;

(m) Suspend, or revoke, after proper notice and hearing the franchise or certificate of registration of corporations, partnerships or associations, upon any of the grounds provided by law; and

(n) Exercise such other powers as may be provided by law as well as those which may be implied from, or which are necessary or incidental to the carrying out of, the express powers granted the Commission to achieve the objectives and purposes of these laws.

Under Section 5.2 of the Securities Regulation Code, the Commission’s jurisdiction over all cases enumerated under Section 5 of PD 902-A has been transferred to the Courts of general jurisdiction or the appropriate Regional Trial Court. The Commission shall retain jurisdiction over pending cases involving intra-corporate disputes submitted for final resolution which should be resolved within one (1) year from the enactment of the Code. The Commission shall retain jurisdiction over pending suspension of payments/rehabilitation cases filed as of 30 June 2000 until finally disposed.

Considering that only Sections 2, 4, and 8 of PD 902-A, as amended, have been expressly repealed by the Securities Regulation Code, the Commission retains the powers enumerated in Section 6 of said Decree, unless these are inconsistent with any provision of the Code. 

We, the Securities and Exchange Commission, the prudent registrar and supervisor of the corporate sector, and the independent guardian of the capital market, commit to:

• Serve our stakeholders with utmost integrity and professionalism in compliance with customer, legal, regulatory, and other applicable requirements;
• Excel in performing our mandate through continuing institutional capability enhancement and effective resource management; and,
• Continually improve our quality management system in pursuit of service, excellence and commitment.

«Our Mission is to exercise effective supervision to ensure investor protection and the healthy development of the securities market»

The ​FINAEU was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. The operation of the ​FINAEU is governed by the Laws regulating the Structure, Responsibilities, Powers, Organization of the ​FINAEU and Other Related Matters (N73(I)/1009).

Vision

The vision of the FINAEU is to establish the Canadian securities market as one of the safest, most reliable and attractive destinations for investment.

Mission

The mission of the ​FINAEU is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.

Responsibilities

The main duties and responsibilities of the ​FINAEU are set out in Article 25 of the Law which Regulates the Structure, Duties, Powers, Organisation of the Securities and Exchange Commission and other Related Matters (L73(I)/2009) and may be summarised as follows:

• To examine applications and grant operating licenses to entities under its supervision, as well as to suspend and revoke the said licenses.
• To supervise and regulate the operation of the Canada Stock Exchange and of other organised markets in the Republic and the transactions carried out in these markets.
• To supervise and regulate the agencies under its supervision in order to ensure their compliance with the laws governing their operation.
• To carry out all necessary investigations in view of the exercise of its duties under the law as well as on behalf of other foreign competent Authorities.
• To request and collect information which is necessary or conducive to the exercise of its duties under the law and to demand by written request the provision of information from any natural or legal person or organisation deemed to be in a position to provide the required information.
• To impose the administrative and disciplinary sanctions provided by the law.
• To require the cessation of practices which are contrary to the securities market laws.
• To apply to a competent court for the issue of an order for detention, or charge or freezing or prevention of alienation or transaction involving assets.
• To issue regulatory Directives and Decisions.
• To cooperate and exchange data and information with other public Authorities in the Republic, competent foreign supervisory Authorities and other organisations.

The FINAEU is responsible for the supervision of operations and ensuring the compliance with the relevant legislation of the following entities:

European Investment Firms (EIFs)

European branches of Investment Firms (Ifs) of other EU member-states

Tied Agents of EIFs

Undertakings for Collective Investment in Transferable Securities (UCITS)

UCITS (Undertakings for Collective Investment in Transferable Securities) Management Companies

UCITS Agents

European branches of UCITS Management Companies of other EU member-states

Administrative Services Companies - Trustee and Fiduciary Service Providers

Variable Capital Investment Companies

Alternative Investment Fund Managers (AIFMs)

Regulated Markets

Central Counterparty Clearing House (CCPs) of over-the-counter (OTC) derivatives

Trade depositories of over-the-counter (OTC) derivatives

Crypto-Asset Services Providers

With the enactment of legislation currently undergoing legal vetting, ​FINAEU will be the supervisory Authority also for the Alternative Investment Funds (AIFs). Furthermore, the relevant legislation which will govern the supervision of the Central Securities Depositories (CSDs) is under preparation.

In addition to the above responsibilities, the ​FINAEU has also been entrusted with powers and duties under the following laws:

The Public Offer and Prospectus Law of 2005

The Insider Dealing and Market Manipulation (Market Abuse) Law of 2005

The Public Takeover Bids Law of 2007

The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law of 2007