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|FOR IMMEDIATE RELEASE
March 28, 2019
OSC outlines priorities for 2019-2020
TORONTO - The Ontario Securities Commission (OSC) today published for comment its 2019-2020 Draft Statement of Priorities. The draft includes four proposed regulatory goals with 15 priority areas where the OSC plans to focus resources and actions in the 2019-2020 fiscal year, as well as the expected outcomes.
“Our agenda is centred on streamlining regulations to enhance the experience of those who invest and do business in Ontario,” said Maureen Jensen, Chair and CEO of the OSC. “The OSC will continue to seek opportunities to make regulation easier and less costly for market participants while protecting investors,” said Chair Jensen.
The OSC’s new regulatory goals are to: Promote Confidence in Ontario’s Capital Markets, Reduce Regulatory Burden, Facilitate Financial Innovation and Strengthen the OSC’s Organizational Foundation.
The priorities include pursuing regulatory burden reduction opportunities through both an OSC Task Force and the CSA, engaging with innovative businesses, expanding systemic risk oversight of derivatives, and contributing to the redevelopment of the Canadian Securities Administrators (CSA)’s National Systems. Improving the experience of retail investors, timely and impactful enforcement actions, the implementation of an alternative funds regime, and the launch of the first phase of the Market Analysis Platform (MAP), a national system that will inform policy research and assist CSA members with investigations, are also among the proposed priorities.
The majority of OSC resources are focused on delivering core regulatory work to maintain high standards of investor protection and promote confidence in Ontario’s capital markets.
The Draft Statement of Priorities is available on the OSC’s website. Stakeholders are invited to provide written comments on the draft by May 27, 2019. A final Statement of Priorities is expected to be published in June 2019.
A progress report on how the OSC delivered on its 2018-2019 Statement of Priorities will be published in June.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. 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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