TORONTO, March 10, 2016 /CNW/ - The Ontario Securities Commission (OSC) today published its 2016-2017 Draft Statement of Priorities. The Draft Statement sets out the OSC's five regulatory goals – deliver strong investor protection, deliver responsive regulation, deliver effective compliance, supervision and enforcement, promote financial stability through effective oversight, and be an innovative, accountable and efficient organization. The release of this Draft Statement gives stakeholders an opportunity to contribute to the OSC's business planning process by providing feedback on specific initiatives the OSC will pursue in support of each of its goals.
"It is vital that we continue working with investors, industry participants and other stakeholders in determining where the OSC will focus its resources in the coming fiscal year," said Maureen Jensen, Chair and CEO of the OSC. "We must balance the evolving needs of investors and respond appropriately to market issues while avoiding over-regulation."
This year, the OSC will increase its focus on monitoring the impact of recent regulatory reforms in Ontario, assessing whether they are achieving their intended results and identifying opportunities for further enhancements. One of the reviews will look closely at the effects of increased access to the exempt market by retail investors. The findings will help the OSC support investors through targeted outreach, oversight and supervision processes.
The Draft Statement is available on the OSC's website. The OSC invites stakeholders to provide written comments by May 9, 2016. After carefully considering submissions, the OSC will publish its final 2016-2017 Statement of Priorities.
The OSC is working to deliver on the initiatives in its current 2015-2016 Statement of Priorities, and will release a progress report on these priorities in spring 2016.
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 www.osc.gov.on.ca
SOURCE Ontario Securities Commission
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