OSC Releases Statement of Priorities for 2018-2019

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.