Securities Law & Instruments

We Want to hear from you

The OSC is constantly working to improve how we regulate Ontario’s capital markets. As part of these efforts, we want to hear from you about our proposed instruments rules and policies.

Out For Comments Statistics


Proposed Instruments, Rules & Policies



Instruments Currently Out For Public Comment

COVID-19 UPDATE: Please note that the deadline for comments on all Instruments currently out for public comment have been extended by 45 days. New deadlines have been posted

in the table below. See press release dated April 9, 2020.

 

Number Title Published Comments Due
32-506,
91-502
Proposed OSC Rule 32-506 (Under the Commodity Futures Act) Exemptions for International Dealers, Advisers and Sub-Advisers – Proposed Amendment to OSC Rule 91-502 Trades in Recognized Options under the Securities Act December 1, 2020 March 1, 2021
25-403 CSA Consultation Paper 25-403 – Activist Short Selling
Comments Received
December 3, 2020  March 3, 2021


 

Public Comment Period Closed - Comments Under Review

The public comment period for each of the rules listed in this section has closed. The comments submitted during the comment period are currently being reviewed by OSC and CSA staff. You may view all of the comments submitted for each of the listed rules during all previous comment periods by clicking on the links provided below.

 
Number Title Published Comments Due
45-106 Proposed Amendments to National Instrument 45-106 Prospectus Exemptions and Proposed Changes to Companion Policy 45-106CP Prospectus Exemptions Relating to the Offering Memorandum Prospectus Exemption
Comments Received
September 17, 2020 December 16, 2020

11-791

OSC Notice 11-791 - Statement of Priorities - Request for Comments Regarding Statement of Priorities for Financial Year to End March 31, 2022
Comments Received
November 16, 2020 December 16, 2020
94-101 Proposed Amendments to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives and Proposed Changes to Companion Policy 94-101 Mandatory Central Counterparty Clearing of Derivatives
Comments Received
September 3, 2020 December 2, 2020
48-501 Proposed Amendments to OSC Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions and Proposed Changes to Companion Policy 48-501CP
Comments Received
August 6, 2020 November 4, 2020
25-402 CSA Consultation Paper 25-402 – Consultation on the Self-Regulatory Organization Framework
Comments Received
June 25, 2020 October 23, 2020
31-358 CSA Staff Notice 31-358 Guidance on Registration Requirements for Chief Compliance Officers and Request for Comments
Comments Received
July 2, 2020 September 30, 2020
45-106 CSA Notice of Amendments to National Instrument 45-106 Prospectus Exemptions and National Instrument 31- 103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and Changes to Companion Policy 45-106CP Prospectus Exemptions and Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations relating to Syndicated Mortgages
Comments Received
August 6, 2020 September 21, 2020
31-103 CSA Notice and Request for Comment – Proposed Amendments to NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and Changes to CP 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations to Enhance Protection of Older and Vulnerable Clients
Comments Received
March 5, 2020 July 20, 2020 
45-110 CSA Notice and Request for Comment Proposed National Instrument 45-110 Start-up Crowdfunding Registration and Prospectus Exemptions
Comments Received
February 27, 2020 July 13, 2020 
81-502 Proposed Ontario Securities Commission Rule 81-502 Restrictions on the Use of the Deferred Sales Charge Option for Mutual Funds and Proposed Companion Policy 81-502 to Ontario Securities Commission Rule 81-502 Restrictions on the Use of the Deferred Sales Charge Option for Mutual Funds and Related Consequential Amendments
Comments Received
February 20, 2020 July 6, 2020
52-112 Proposed National Instrument 52-112 Non-GAAP and Other Financial Measure Disclosure - Proposed Companion Policy 52-112 Non-GAAP and Other Financial Measures Disclosure - Related Proposed Consequential Amendments
Comments Received
February 13, 2020 June 29, 2020
11-788 OSC Notice 11-788 – Statement of Priorities – Request for Comments Regarding Statement of Priorities for Financial Year to End March 31, 2021
Comments Received
April 30, 2020 June 1, 2020
51-405 CSA Consultation Paper 51-405 – Consideration of an Access Equals Delivery Model for Non-Investment Fund Reporting Issuers
Comments Received
January 9, 2020 March 9, 2020
52-108 CSA Notice and Request for Comment - Proposed Amendments to National Instrument 52-108 Auditor Oversight and Proposed Changes to Companion Policy 52-108 Auditor Oversight
Comments Received
October 3, 2019 January 2, 2020
41-101,
81-101,
81-102,
81-106,
81-107
CSA Notice and Request for Comment Reducing Regulatory Burden for Investment Fund Issuers – Phase 2, Stage 1
Comments Received
September 12, 2019 December 11, 2019
51-102 CSA Notice and Request for Comment - Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations and Changes to Certain Policies Related to the Business Acquisition Report Requirements
Comments Received
September 5, 2019 December 4, 2019


 

Instruments with Minister for 60-Day Review and Decision

This section identifies all of the rules that are currently with the Minister responsible for the OSC for review and decision and indicates the final day of the Minister's 60 day review period.

Within 60 days after the Commission delivers a rule to the Minister, the Minister may approve or reject the rule, or return it to the Commission for further consideration. If the Minister does not approve, reject or return the rule, it becomes effective 15 days following the conclusion of the 60 day period unless there is a later day specified in the rule in which case the rule comes into force on that later day. You may view the version of the instrument which has been delivered to the Minister for review and decision by clicking on the links below.
Number Title Minister's Decision Required by