TORONTO, June 29, 2017 /CNW/ - The Ontario Securities Commission (OSC) today published its 2017-2018 Statement of Priorities, which sets out the 15 priority areas where the OSC intends to focus its resources and actions over the coming fiscal year, as well as the expected outcomes.
The OSC received 21 comment letters on its draft 2017-2018 Statement of Priorities. The feedback was broadly supportive of reducing regulatory burden, working with fintech businesses to foster innovation in capital markets, and implementing targeted approaches to address seniors' issues.
The final 2017-2018 Statement of Priorities includes an additional priority related to the work required to transfer regulatory oversight of syndicated mortgages to the OSC.
The OSC also published its Report on the Statement of Priorities for Fiscal 2016-2017, which details its performance against the priorities set out in the 2016-2017 Statement of Priorities and highlights key accomplishments. For example, in July 2016, the OSC launched the Office of the Whistleblower, the first paid whistleblower program by a Canadian securities regulator. In another regulatory first for Canada, in October 2016, the OSC unveiled OSC LaunchPad, a dedicated team that helps fintech businesses navigate securities law requirements. The OSC also achieved important investor protection milestones, including publishing and conducting consultations on the review of the client-advisor relationship, and publishing a consultation paper with options for discontinuing embedded commissions.
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 http://www.osc.gov.on.ca
SOURCE Ontario Securities Commission
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