News & Events

Ontario Securities Commission
Investor Advisory Panel



Ontario
Securities
Commission


20 Queen St. W.
22nd Floor
Toronto, ON M5H 3S8
Commission des
valeurs mobilières
de l'Ontario
FOR IMMEDIATE RELEASE

April 20, 2016


OSC’s Investor Advisory Panel Releases 2015 Annual Report


TORONTO – The Investor Advisory Panel (the Panel) has submitted its 2015 Annual Report to the Ontario Securities Commission (OSC). The Report summarizes the Panel’s recommendations, activities, submissions, consultations, and meetings during the calendar year.

In 2015, the Panel had many opportunities to bring the investor perspective to several key regulatory initiatives. While pleased to see an emphasis on investor protection and evidence based research on the OSC’s agenda, the Panel believes it is time to move from consultation to action.

“Regulators are now well aware of the changes that must be made to protect investors and foster an industry that puts investors’ needs first and foremost,” said Ursula Menke, Chair of the Panel. “This means introducing a best interest standard, eliminating conflicted compensation and making access to restitution and dispute resolution a reality for Ontario investors.”

In 2015, the Panel met twelve times, produced fourteen submissions or comment letters, met with a variety of OSC staff and external stakeholders, and also added to the body of research meant to guide policymakers by funding a study on risk profiling called “Current Practices for Risk Profiling in Canada and Review of Global Best Practices”, which was undertaken by PlanPlus Inc. on the Panel’s behalf.

The Panel does note that while in past years it has expressed frustration with the slow pace of progress in improving investor protection, it believes 2015 marked a much better year from the perspective of investors.

“We have seen positive changes at the OSC over the last year and these are most evident in the collaborative relationship that has evolved between the Commission and the Panel, including our work during the year with the newly refocused OSC Investor Office,” continued Menke.

The panel is comprised of 7 members appointed by the Chair of the Commission following a public application process and on the advice of a selection committee consisting of up to three Commissioners. The Panel provides regular reporting through our Investor Advisory Panel website, published reports, submissions and letters to the Commission and its Annual Report.


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For Media Inquiries: Ursula Menke
Chair, Investor Advisory Panel
iap@osc.gov.on.ca
For Investor Inquiries: iap@osc.gov.on.ca