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section header ETF fundamentals

subsection header Basics

How are ETFs regulated?

Like mutual funds and other investments, ETFs in Canada are regulated by the securities commissions within each province or territory.

Securities commissions regulate the sale and distribution of ETFs in line with the investor protections set out in the various National Instruments, including National Instrument 81-102, and those within the broader provincial Securities Acts. These protections include requirements for disclosing investment information and pricing, ethical standards for investment professionals, and other regulations that help ensure fair and transparent access to Canadian financial markets.

In addition to governmental oversight, dealers who sell ETFs are regulated by the Investment Industry Regulatory Organization of Canada (IIROC). As a self-regulatory organization, IIROC is subject to oversight and regular operational reviews by the securities commissions in each province or territory. IIROC regulates its member dealers by setting education standards, investigating complaints, auditing for compliance and taking enforcement action when necessary.


Learn about the different types of exchange-traded products, how index and active ETFs are managed and more.


Learn about ETF trading, common order types, premiums and discounts, liquidity considerations and more.


Learn about strategic and tactical uses for ETFs, including asset and sub-asset allocation, portfolio completion, cash equitization and more.

Commissions, management fees, and expenses all may be associated with investment funds. Investment objectives, risks, fees, expenses, and other important information are contained in the prospectus; please read it before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Vanguard funds are managed by Vanguard Investments Canada Inc. and are available across Canada through registered dealers.

This material is for informational purposes only. This material is not intended to be relied upon as research, investment, or tax advice and is not an implied or express recommendation, offer or solicitation to buy or sell any security or to adopt any particular investment or portfolio strategy. Any views and opinions expressed do not take into account the particular investment objectives, needs, restrictions and circumstances of a specific investor and, thus, should not be used as the basis of any specific investment recommendation. Investors should consult a financial and/or tax advisor for financial and/or tax information applicable to their specific situation.

All investment funds, including those that seek to track an index are subject to risk, including the possible loss of principal. Diversification does not ensure a profit or protect against a loss in a declining market. While the Vanguard ETFs are designed to be as diversified as the original indices they seek to track and can provide greater diversification than an individual investor may achieve independently, any given ETF may not be a diversified investment.

All monetary figures are expressed in Canadian dollars unless otherwise noted.