The Ontario Securities Commission (OSC) has released its Statement of Priorities for the fiscal year ending March 2019.
The priorities listed for the upcoming fiscal year support the OSC’s five broad regulatory goals, which are generally consistent with those identified in past years:
Deliver strong investor protection
The OSC will champion investor protection, especially for retail investors
Publish regulatory reforms that address the best interests of the client
Publish regulatory actions needed to address embedded commissions
Advance retail investor protection, engagement and education through the OSC's Investor Office
Deliver effective compliance, supervision and enforcement
The OSC will deliver effective compliance oversight and pursue fair, vigorous and timely enforcement
Protect investors and foster confidence in our markets by upholding strong standards of compliance with our regulatory framework
Increase deterrent impact of OSC enforcement actions and sanctions by actively pursuing timely and consequential enforcement cases involving serious securities laws violations
Deliver responsive regulation
The OSC will identify important issues and deal with them in a timely way
Work with fintech businesses to support innovation and capital formation through regulatory compliance
Implement additional investor protection measures for syndicated mortgage investments
Address opportunities to reduce regulatory burden while maintaining appropriate investor protections
Review the effectiveness of the disclosure requirements regarding women on boards and in executive officer positions (WOB) to determine if there is a need for further action
Actively monitor and assess impacts of recently implemented regulatory initiatives
Promote financial stability through effective oversight
The OSC will identify, address and mitigate systemic risk and promote stability
Enhance OSC systemic risk oversight
Promote cybersecurity resilience through greater collaboration with market participants and other regulators on risk preparedness and responsiveness
Be an innovative, accountable and efficient organization
The OSC will be an innovative, efficient and accountable organization through excellence in the execution of its operations
Develop a strategic OSC workforce approach focused on skill recruitment and development
Enhance OSC business capabilities
Work with Capital Markets Regulatory Authority (CMRA) partners on the transition of the OSC to the proposed CMRA
You can view the OSC notice here.
DISCLAIMER: This post is intended to convey general information about legal issues and developments as of the date above. It does not constitute legal advice and must not be treated or relied on as such.