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ARTICLE · 06 OCTOBER 2023

ETFs In The Spotlight: The CSA Review Exchange-Traded Funds

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In August 2023, the Canadian Securities Administrators (CSA) announced that they will be engaging in a review of exchange-traded funds (ETFs). The review—which is set to conclude before the end...

CanadaStrategy
Kathryn Fuller
Kathryn Fuller
Melissa Ghislanzoni
Melissa Ghislanzoni
Lynn McGrade
Lynn McGrade
Whitney Wakeling
Whitney Wakeling
Griffin Murphy
Griffin Murphy
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In August 2023, the Canadian Securities Administrators (CSA) announced that they will be engaging in a review of exchange-traded funds (ETFs). The review—which is set to conclude before the end of 2023—will assess whether the current regulations applicable to ETFs remain appropriate. The CSA will determine whether consultations and/or regulatory changes are needed to enhance the current regulatory framework by focusing on how existing regulations interact with the unique features of ETFs, including:

  • Secondary market trading;
  • The creation/redemption mechanism and the corresponding role played by authorized dealers; and
  • The arbitrage mechanism that acts to keep the market price of an ETF close to the underlying value of its portfolio.

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