The Canadian Securities Administrators (CSA) is best described as:

Answer

A council of the provincial regulators

Options - A. A council of the provincial regulators - B. The federal securities regulator - C. A self-regulatory organisation for dealers - D. The securities regulator for Ontario Why - A. Correct — an umbrella body of the thirteen regulators that harmonises rules through National Instruments; it regulates nobody itself. - B. There is no federal securities regulator; the CSA has no statute and no enforcement power of its own. - C. The SRO for dealers is CIRO. The CSA is made up of statutory regulators, not industry members. - D. Ontario’s regulator is the OSC — one of the CSA’s thirteen members.

CSA, who we are and the passport system (securities-administrators.ca); OSC, MI 11-102 index (“Not adopted in Ontario”), role of the OSC, NI 31-103 / 45-106 / 51-102 indexes (osc.ca) — observed 2026-09-17