TORONTO, July 22, 2013 /CNW/ - To promote stronger compliance practices
and enhance investor protection, the Ontario Securities Commission
(OSC) is strengthening its communication with registrants through a
newly launched 'Registrant Outreach' program.
The Program, featuring a dedicated web page and educational seminars,
facilitates a more interactive dialogue with Ontario registrants and
will provide registrants with easy to access compliance-related
information in one convenient location.
"Registrants are a vital component of Ontario's capital market and it's
important that we provide them with tailored tools and guidance to
foster strong regulatory compliance, which leads to enhanced investor
protection," said Debra Foubert, Director, Compliance and Registrant
Regulation at the OSC. "We have a responsibility to strengthen our
lines of communication with registrants and work with them to achieve
efficient and effective capital markets."
Outreach Program Initiatives
Dedicated web page
The Program features a dedicated web page for registrants, which has
been designed to enhance awareness of topical compliance issues.
Registrants are encouraged to check the web on a regular basis for
updates on regulatory issues impacting Ontario registrants.
Beginning in September, the OSC will host a series of targeted seminars
to provide registrants with practical knowledge on compliance related
matters. The seminars will feature topics including how to get through
an OSC compliance review and understanding KYC (know your client) and
suitability obligations. Interested registrants can find the seminar
calendar and course descriptions on the registrant outreach web page.
Registrants are also encouraged to join the OSC's Registrant Outreach
Community to receive regular email updates on OSC policies impacting
registrants, as well as the latest publications and guidance on the
OSC's expectations regarding compliance.
The OSC oversees approximately 1,300 firms and 66,000 individuals in
The Registrant Outreach program is led by the Compliance and Registrant
Regulation branch, which regulates firms and individuals in the
business of advising or trading in securities or commodity futures, and
firms that manage investment funds in Ontario.
The OSC conducts compliance reviews of advisers, exempt market dealers,
scholarship plan dealers and investment fund managers throughout the
year to monitor their compliance with Ontario securities law.
Using a risk assessment model, the OSC conducts on-site and desk reviews
Firms may also be reviewed as part of a "sweep" on a particular topic of
interest or issue identified by the OSC.
Key policy initiatives impacting registrants
The OSC is the regulatory body responsible for overseeing Ontario's
capital markets. The OSC administers and enforces Ontario's securities
and commodity futures laws. Its mandate is to provide protection to
investors from unfair, improper or fraudulent practices and to foster
fair and efficient capital markets and confidence in capital markets.
SOURCE: Ontario Securities Commission
For further information:
For Media Inquiries:
Manager, Public Affairs
Senior Media Relations Specialist
Media Relations Specialist
Follow us on Twitter: OSC_News
For Investor Inquiries:
OSC Contact Centre
1-877-785-1555 (Toll Free)