OSC Boiler Room Unit
The OSC launched a specialized
Boiler Room Unit to disrupt and
prevent the distribution of
unregistered securities to investors
by unregistered salespeople. The
Boiler Room Unit consists of staff
with market, regulatory and law
enforcement expertise. The Unit
works with law enforcement
agencies and other regulators in
Canada and the U.S. to disrupt and
prevent illegal distributions before
they reach investors.
 |
|
Point-of-sale disclosure
As a member of the Joint Forum
of Financial Market Regulators,
we published a proposed
point-of-sale framework for
comment in June 2007. The
framework's objective is to
provide investors with meaningful
information when they need it
most – before they make a
decision to purchase a mutual
fund or a segregated fund.
|
|
|
Registration reform
The OSC has led the development
of a revised draft of proposed
National Instrument 31-103
Registration Requirements, which
would harmonize, streamline and
modernize the current registration
requirements across the
jurisdictions of the Canadian
Securities Administrators (CSA).
The amendments made to the
proposed rule address many of
the issues and questions raised
by stakeholders about the original
proposed rule that was published
for comment in 2007.
|
|
Options-timing practices
The OSC conducted comprehensive
reviews of options-timing practices
by public companies in Ontario
as part of a continuous disclosure
review program. Issuers that
appeared to display indications
of options-timing practices were
identified for review. The
program resulted in a number
of investigations by the
Enforcement Branch.
|
|
|
|
Environmental
reporting disclosure
The OSC published Staff Notice
51-716 Environmental Reporting following a targeted review of
compliance with environmental
reporting requirements by
reporting issuers. The Notice
provides guidance that reporting
issuers should consider when
discussing environmental matters
in their continuous disclosure
documents to ensure their
disclosure is in compliance with
securities legislation.
|
|
Alternative trading
system rules
In a Joint Notice with Market
Regulation Services Inc. (RS),
securities regulators proposed
amendments to National
Instrument 21-101 Marketplace
Operation and National Instrument 23-101 Trading Rules (the ATS
Rules) relating to best execution
and direct market access. The
Notice also proposed a framework
for trade-through protection.
|
|
|
