The Commission acts as a securities regulator and also serves as the Board of Directors of the OSC. As a securities regulator, the Commission is responsible for administering and enforcing securities and commodity futures laws in Ontario, including the Securities Act and the Commodity Futures Act. As a Board, the Commission oversees the management of the OSC’s financial and other affairs.
In 2008–09, there was a marked increase in adjudicative activity by the Commission, both in the number and complexity of matters heard by adjudicative panels. The growing number of administrative proceedings resulted in an increase in the number of hearing days and the number of cases on which panels are sitting concurrently. As a result, the Commission is considering proposals to enhance its case management procedures in order to continue to maintain effective adjudication of matters.
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adjudicative activities in 2008–09.
Policy and Governance
The Commission has responsibilities under Ontario’s securities laws to regulate the capital markets in the province. Members of the Commission approve and oversee the implementation of the OSC’s regulatory initiatives and priorities. In 2008–09, Members were actively engaged with OSC staff in the development and implementation of regulatory responses to the difficult financial market conditions.
In their role as a Board, Members are responsible for the overall stewardship of the organization. The Commission strives to conform to the highest standards of corporate governance appropriate for the Board of a regulatory agency.
contains more details about the Commission’spolicy and Commission governance activities in 2008–09.