TORONTO, March 29, 2018 /CNW/ - The Ontario Securities Commission (OSC) today published for comment its 2018-2019 Draft Statement of Priorities. The draft includes 14 priority areas the OSC plans to focus on next fiscal year.
"We are pursuing an ambitious regulatory agenda that is responsive to our evolving capital markets," said Maureen Jensen, Chair and CEO of the OSC. "We will continue to support fintech innovation, advance measures to better protect investors, and initiate projects to lighten the regulatory load for businesses."
The OSC will continue to foster new ways to raise capital and invest, while focusing on potential investor protection issues arising from cryptocurrency and blockchain-related developments. The OSC also intends to advance key investor protection measures, including publishing reforms that address the best interests of the client, and defining actions on embedded commissions. Additionally, the OSC will pursue initiatives to address regulatory burden for public companies and investment funds.
The draft includes thirteen priorities from the OSC's 2017-2018 Statement of Priorities, which are moving into the next phase of work, as well as a new priority related to workforce strategy. The priorities align with the OSC's five regulatory goals to deliver strong investor protection, deliver effective compliance, supervision and enforcement, deliver responsive regulation, promote financial stability through effective oversight, and be an innovative, accountable and efficient organization.
The Draft Statement of Priorities is available on the OSC's website. Stakeholders are invited to provide written comments on the draft by May 28, 2018.
"We look forward to receiving comments on this draft and will publish our final Statement of Priorities in June," said Leslie Byberg, Executive Director and CAO of the OSC.
The OSC is working to deliver on initiatives in its current 2017-2018 Statement of Priorities, and a progress report on this will also be released in June 2018.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. 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 http://www.osc.gov.on.ca.
SOURCE Ontario Securities Commission
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