Canadian industry

523110 Investment banking and securities dealing

Services bancaires d'investissement et commerce des valeurs mobilières

Official definition

This Canadian industry comprises establishments primarily engaged in acting as principals (investors who buy or sell on their own account), generally on a spread basis, in originating, underwriting and/or distributing issues of securities of businesses, governments and institutions.

Classification Reference

Official classification fields for this page

Official classification fields taken from the current StatCan source bundle.

Characteristic Description
Official titleInvestment banking and securities dealing
ClassificationNAICS Canada 2022 Version 1.0
Publishing authorityStatistics Canada
Hierarchical levelCanadian industry
Parent code52311 - Investment banking and securities dealing
International correspondenceK6499*
Sourcehttps://www.statcan.gc.ca/en/subjects/standard/naics/2022/v1/index
Source verification2026-05-05
Canada Business Context

Canada-wide tax and filing context

Canada-wide business, tax, and filing context from the local country pack and tax pack.

Characteristic Description
Tax authorityCanada Revenue Agency (CRA)
Business identifierBusiness Number (BN): 9-digit identifier with program account suffixes such as RT0001 for GST/HST, RP0001 for payroll, and RC0001 for corporate income tax.
Filing requirementsBusiness Number registration; Form T2125 (Statement of Business or Professional Activities) attached to T1; Form T2 (Corporation Income Tax Return); Form T5013; Form GST34
Sector authorityOffice of the Superintendent of Financial Institutions (OSFI) and provincial securities commissions

Inclusions

  • making markets (dealing or trading) in securities

Exclusions

  • buying or selling securities for others on a commission basis (See 523120 Securities brokerage (US))

Examples

  • government bond underwriters
  • investment banking
  • securities distributing (acting as a principal in dealing securities to investors)
  • securities originating (acting as a principal in dealing new securities to investors)
  • underwriters, securities
  • commercial paper dealing (acting as a principal in dealing securities to investors)
  • government bond underwriters
  • investment banking
  • making markets (dealing or trading) in securities
  • making markets for securities
  • securities distributing (acting as a principal in dealing securities to investors)
  • securities floor traders (acting as a principal in dealing securities to investors)
  • securities flotation companies
  • securities originating (acting as a principal in dealing new securities to investors)
  • underwriters, securities

Classification Confidence Score

5 of 6 factors passing

8/ 10
Verified official sourcenaics-scian-2022-structure-v1-eng.csv (2026-05-05)
International crosswalkISIC Rev. 4 mapping: K6499*
Previous edition migrationNAICS 2017 to 2022 continuity confirmed
Complete hierarchy5 levels confirmed in hierarchy
Size or threshold documentedSME thresholds documented in federal tax pack
Trade or export matchNo direct HS code correspondence in current bundle
Legacy crosswalkLegacy system (SIC 1980) retired in this region
Business Profiles

When you might need code 523110

These role examples come from the official title and example wording attached to this code.

01 523110
Investment banking and securities dealing

Use this page when the business is directly described by the official title or definition for 523110 Investment banking and securities dealing. It is the closest source-backed checkpoint before BN registration, GST/HST review, banking onboarding, or internal classification work.

02 523110
government bond underwriters

Use this page when the activity is described in the official StatCan example wording as government bond underwriters. Compare the definition, exclusions, and nearby codes here before attaching 523110 Investment banking and securities dealing to a business file.

03 523110
investment banking

Use this page when the activity is described in the official StatCan example wording as investment banking. Compare the definition, exclusions, and nearby codes here before attaching 523110 Investment banking and securities dealing to a business file.

04 523110
underwriters, securities

Use this page when the activity is described in the official StatCan example wording as underwriters, securities. Compare the definition, exclusions, and nearby codes here before attaching 523110 Investment banking and securities dealing to a business file.

Business Map

Business categories in this branch

A rotating set of business activity examples linked to this part of the Canadian hierarchy.

Insurance workCredit servicesBanking servicesBrokerage supportPayment processingInvestment operations

In this section

  • 523110Investment banking and securities dealing

Commonly confused with

523120 — Securities brokerage

buying or selling securities for others on a commission basis (See 523120 Securities brokerage (US))

ISIC Rev. 4 correspondence

K6499*Other financial service activities, except insurance and pension funding activities, n.e.c.

Approximate correspondence

Investment banking and securities dealing

US NAICS referenceNo exact same-code US entry appears in the local reference workbook.

Source row

523110Investment banking and securities dealing

This page mirrors the source row from the structure CSV and the matching rows from the elements and crosswalk files.

Frequently asked questions

What does code 523110 cover?

Investment banking and securities dealing: This Canadian industry comprises establishments primarily engaged in acting as principals (investors who buy or sell on their own account), generally on a spread basis, in originating, underwriting and/or distributing issues of securities of businesses, gover...

Which level of the hierarchy is 523110?

It is a canadian industry page in the NAICS Canada 2026 hierarchy.

What is the parent of 523110?

It rolls up to 52311 Investment banking and securities dealing.

Should I stop at 523110 or go lower?

This page already points to the exact six-digit Canadian industry in the current site structure.

Are official inclusion notes attached to 523110?

Yes. 1 inclusion note(s) are attached on this page.

Are there exclusion notes for 523110?

Yes. 1 exclusion note(s) help separate this page from nearby codes.

Does 523110 include illustrative examples?

Yes. 15 example row(s) are available for boundary checking.

What kinds of businesses often start from this page?

Examples in this branch include Insurance work, Credit services, Banking services, Brokerage support, Payment processing, Investment operations.

Is there an ISIC mapping for 523110?

Yes. The page shows K6499* Other financial service activities, except insurance and pension funding activities, n.e.c..

Does this page show a US NAICS reference?

No same-code US NAICS reference row is attached on this page.

Why are both English and French titles shown?

NAICS Canada is bilingual, so the page keeps both language titles visible for comparison and lookup.

Where does the page text come from?

From the local StatCan structure file, elements file, ISIC crosswalk, and the bundled US 6-digit reference workbook.