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Why We're Involved in International Affairs
One of the key trends the OSC must deal with is the global integration of capital markets and market participants. Borders no longer serve as barriers to capital flows - or to those who would like to take advantage of investors.
To attract market participants, we need to maintain a globally competitive regulatory regime that provides adequate investor protection. One of the ways we can do this is by building on our relationships in the international regulatory community, making use of the best lessons of each and relying on their expertise where practicable.
Increasingly, issuers, investors and market intermediaries who participate in the capital markets of more than one jurisdiction are calling for greater international harmonization of regulatory requirements. By working with foreign regulators and international associations, we can promote the international harmonization of regulatory regimes, if it is appropriate to do so. Through international associations and our network of contacts among foreign regulators, we can also influence the debate about international harmonized standards and take action to ensure that such standards provide adequate protection to investors and foster fair and efficient markets.
Because capital markets around the world increasingly are becoming linked together, weaknesses in foreign financial regulatory schemes may pose risks to Ontario capital markets and market participants. Therefore, it is important for the OSC to help other regulators, sharing our knowledge and skills with them and cooperating with them, as appropriate, in enforcement matters. The OSC also coordinates with foreign regulators and international regulatory associations to identify and close gaps in regulation between jurisdictions that may be used to support illegal market conduct.
International Affairs Office
The International Affairs Office at the OSC:
- plays a strategic role in developing the OSC's international initiatives;
- ensures that the OSC's objectives are promoted through participation in international organizations;
- supports OSC staff who participate in international organizations;
- briefs OSC staff on international project work relevant to the administration and/or reform of domestic securities laws;
- assists in responding to requests by foreign regulators for information about securities regulation and capital markets in Ontario; and
- promotes greater public awareness of international securities regulatory matters.
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