Canada has sophisticated financial system, findings show

Canada has a highly sophisticated securities framework that largely addresses the principles of the International Organization of Securities Commissions (IOSCO), according to findings from the International Monetary Fund (IMF) and the World Bank, Autorite des Marches Financiers (AMF) reported.
The positive findings, according to AMF, indicate that:
Canada’s financial system is mature, sophisticated and well-managed;
Canada has established a highly effective and nearly unified regulatory and supervisory framework;
The regulatory framework for the securities market exhibits a high degree of implementation of the IOSCO Principles;
In the largest provinces at least, regulatory authorities are independent and self-funded, have sufficient resources and skilled personnel, and are clearly accountable to the government;
The framework for issuers, self-regulatory organizations (SROs), market intermediaries and secondary markets is robust;
Significant improvements to the regulatory system have been made as a result of the creation of the Canadian Securities Administrators (CSA), including those that will be brought about by the implementation of the passport system;
Under the umbrella of the CSA, coordination between the 13 regulatory agencies has significantly improved;
Issuers, collective investment schemes and registrants are the areas where more progress in coordination and harmonization have been achieved; and
Enforcement has shown positive change in recent years.