OSC Provides Update on Proposed Enforcement Initiatives
05 Jun, 2013, 15:58 ET
TORONTO, June 5, 2013 /CNW/ - In advance of the Enforcement Policy Hearing on June 17, 2013, the Ontario Securities Commission today issued Staff Notice 15-706, which provides an update on activities undertaken since the publication of Staff Notice 15-704 Request for Comments on Proposed Enforcement Initiatives.
Staff have been actively monitoring developments in the United States, in particular the use of "neither admit nor deny settlements", and have clarified in Staff Notice 15-706 the limited circumstances under which no-contest settlements would be considered.
Staff remain committed to the four proposed enforcement initiatives set out in 15-704 and will be speaking in support of their use at the policy hearing on June 17, 2013.
Participants in the upcoming Enforcement Policy Hearing are invited to review Staff Notice 15-706 in advance of the hearing.
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 capital markets.
SOURCE: Ontario Securities Commission
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