The MFSA is a Special Operating Agency (SOA) of the Manitoba Government that reports to Cabinet through the Minister of Finance. The MFSA’s purpose is to protect Manitoba consumers of financial products while facilitating fair and efficient markets in Manitoba’s financial services sector. The MFSA is accountable to Manitobans for the actions it takes.
The Manitoba Securities Commission, a division of the Manitoba Financial Services Agency was structured in its present form in 1968 as set out in The Securities Act. The Commission is divided into two branches or arms. These are:
- the policy making group made up of a maximum of seven Order in Council appointees who meet regularly (“Commission Members”)
- the administrative or functional arm which is made up of full time employees who conduct the day-to-day operations
The Commission Members deal with policy formulation, applications seeking exemptive or other special relief and perform a judicial function in the hearing of disciplinary proceedings brought pursuant to the several Acts or for the determination of applications.
The Securities division is organized into seven operational sections being investigation, legal, registration, compliance, corporate finance and continuous disclosure, finance and administration and education and communications.
The administrative arm of the Commission is made up of full time employees of the provincial government and conducts the day-to-day operations including registrations, processing of applications and prospectuses, preparing matters for the referral to the Commissioners and conducting investigations, prosecutions and other hearings.
The Chair presides at the meetings of Commission Members and is also the Chief Executive Officer of the administrative arm of the Commission. The Chair reports to the legislature through the Minister of Finance.