|Notice from the
Office of the Secretary
20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
|Commission des valeurs mobilières de l'Ontario
||FOR IMMEDIATE RELEASE
December 18, 2012
OSC Officially Launches Litigation Assistance Program for
TORONTO – The Ontario Securities Commission (Commission), as the regulatory body responsible for overseeing the capital markets in Ontario, administers and enforces the Securities Act (Ontario) and the Commodity Futures Act (Ontario) and certain provisions of the Business Corporations Act (Ontario). The mandate of the Commission is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in their integrity.
The profession is advised that commencing on Thursday, October 18, 2012, the Commission will officially launch the OSC Litigation Assistance Program (the “Program”). The program is designed to provide duty counsel services to self-represented respondents who are involved in enforcement proceedings before the Commission. The Commission approved the Program following the successful completion of a one-year pilot project.
As part of the Program, volunteer counsel will provide legal services to self-represented respondents during the following stages of proceedings before the Commission: (i) pre-hearing conferences; (ii) settlement conferences and/or settlement hearing; (iii) sanctions and costs hearing and / or (iv) on an exceptional basis, motions. The volunteer counsel will be private practitioners entirely independent of the Commission.
The representation provided by volunteer counsel will follow a duty counsel model, with representation being limited to the four above-noted stages. Subject to the availability of volunteer counsel, any interested self-represented respondent will be eligible to receive assistance under the Program.
The Program will be administered through the Office of the Secretary to the Commission. More detailed information on the Program is available on the Commission’s website at www.osc.gov.on.ca
OFFICE OF THE SECRETARY
JOHN P. STEVENSON
|For media inquiries:
Manager, Public Affairs
Media Relations Specialist
|For Investor Inquiries:||OSC Contact Centre
1-877-785-1555 (Toll Free)