TORONTO, Nov. 1, 2011 /CNW/ - Ontario Securities Commission Chair Howard
Wetston, Q.C., today spoke before an audience of more than 300 market
participants and investors at OSC Dialogue 2011, and provided an
overview on a number of initiatives underway by the Commission given
the dramatic developments in the capital markets.
Chair Wetston articulated the direction of the Commission in terms of
market regulation and derivatives, strengthening enforcement and
protecting investors. "A great challenge facing regulators will be
developing the capacity to keep up with new market developments that
will surely emerge over time as a result of financial innovation," said
Chair Wetston also provided an update on the review by the Commission of
emerging market issuers. Chair Wetston said preliminary findings have
uncovered important information about the role of gatekeepers and
boards, specifically governance challenges where the management and
bulk of operations are located in a foreign jurisdiction.
In his remarks, Chair Wetston announced the Commission's new strategic
plan, still being drafted, will expand the OSC's capability to conduct
research, prioritize policy making and increase the focus on engagement
"In this new financial reality we must consider a more strategic
approach to fulfilling our mandate of investor protection and fostering
fair and efficient capital markets," said Chair Wetston.
For a complete text of "Regulating in the New Financial Reality" please
refer to the OSC's website: www.osc.gov.on.ca.
SOURCE Ontario Securities Commission
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