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|Commission des valeurs mobilières de l'Ontario
||FOR IMMEDIATE RELEASE
November 1, 2011
OSC Chair Howard Wetston Outlines OSC’s Approach to
Regulating in the New Financial Reality
TORONTO – Ontario Securities Commission Chair Howard Wetston, Q.C., today spoke before an audience of more than 300 market participants and investors at OSC Dialogue 2011, and provided an overview on a number of initiatives underway by the Commission given the dramatic developments in the capital markets.
Chair Wetston articulated the direction of the Commission in terms of market regulation and derivatives, strengthening enforcement and protecting investors. “A great challenge facing regulators will be developing the capacity to keep up with new market developments that will surely emerge over time as a result of financial innovation,” said Chair Wetston.
Chair Wetston also provided an update on the review by the Commission of emerging market issuers. Chair Wetston said preliminary findings have uncovered important information about the role of gatekeepers and boards, specifically governance challenges where the management and bulk of operations are located in a foreign jurisdiction.
In his remarks, Chair Wetston announced the Commission’s new strategic plan, still being drafted, will expand the OSC’s capability to conduct research, prioritize policy making and increase the focus on engagement with investors.
“In this new financial reality we must consider a more strategic approach to fulfilling our mandate of investor protection and fostering fair and efficient capital markets,” said Chair Wetston.
|For Media Inquiries: firstname.lastname@example.org||Wendy Dey
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Manager, Public Affairs
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