20 Queen St. W.
Toronto, ON M5H 3S8
|FOR IMMEDIATE RELEASE
March 20, 2018
OSC outlines initiatives to respond to needs of Ontario seniors and investment industry
TORONTO – The Ontario Securities Commission (OSC) today published OSC Staff Notice 11-779 Seniors Strategy, which outlines new initiatives to respond to the needs of older investors and better equip registered firms and representatives to address issues that may arise as their clients age.
“The OSC’s vision is a stronger and more secure financial future for all Ontario seniors,” said Tyler Fleming, Director of the Investor Office at the OSC. “Our comprehensive approach includes targeted policy, operational, research and educational initiatives to ensure that older Ontarians’ needs are appropriately met by the province’s securities industry.”
Over the coming year, the OSC will work to implement new initiatives, including the development of a flexible and responsive framework to address issues of financial exploitation and cognitive impairment among older investors that includes a safe harbour for firms and their representatives.
The OSC also plans to introduce guidance and educational initiatives for registered firms and representatives who work with older investors, covering topics such as best practices for engaging and communicating with older investors. Additionally, the OSC intends to establish dedicated staff in its Inquiries and Contact Centre to respond to questions and concerns from older investors.
These initiatives and others outlined in the strategy follow extensive research, consultation with the OSC’s Seniors Expert Advisory Committee, findings from a roundtable focused on seniors’ issues, as well as engagement with international regulators, the investment industry, retail investors and community groups.
The OSC will provide an update on its progress on the initiatives outlined in today’s publication in one year.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.
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