OSC publishes annual summary report to assist registrants

TORONTO – The Ontario Securities Commission (OSC) today published an Annual Summary Report, which sets out expectations for firms and individuals directly regulated by the OSC (including exempt market dealers, portfolio managers, and investment fund managers).

Staff Notice 33-742 - 2013 OSC Annual Summary Report for Dealers, Advisers and Investment Fund Managers, is designed to enhance the understanding by firms and individuals of their important obligations under Ontario securities law.

“This report is a key part of our ongoing outreach to Ontario registrants,” said Debra Foubert, Director of Compliance and Registrant Regulation at the OSC. “We strongly encourage registrants to read and use this report in order to ensure they are fully compliant with our requirements.”

The report was prepared by the OSC's Compliance and Registrant Regulation Branch, which registers and oversees approximately 1,300 firms and 66,000 individuals (together, registrants) that trade or advise in securities or commodity futures, or act as investment fund managers.

The report covers:

• new and proposed rules impacting registrants;
• trends in deficiencies from compliance reviews of registrants;
• suggested practices to address compliance deficiencies;
• current trends in registration issues; and,
• recent registrant misconduct cases of interest.

The OSC is a regulatory body responsible for overseeing Ontario’s capital markets. The OSC administers and enforces Ontario’s securities and commodity futures laws. Its mandate is to provide protection to investors from unfair, improper or fraudulent practice and to foster fair and efficient capital markets and confidence in capital markets.

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