The Ontario Securities Commission today released a draft
Statement of Priorities for the financial year ending March 31,
The draft statement specifically identifies five regulatory
goals for the following year, namely: (i) delivering strong
investor protection, including by developing and evaluating
regulatory provisions to create a best interest duty, developing
targeted regulatory reforms under NI 31-103 Registration
Requirements, Exemptions and Ongoing Registrant Obligations to
improve the advisor/client relationship and implementing pre-sale
delivery of Fund Facts for mutual funds; (ii) delivering responsive
regulation, including by publishing the results of the disclosure
review and continuing to promote transparency and representation of
women on boards, and developing and publishing rules to implement
new prospectus exemptions, such as the offering memorandum
exemption, crowdfunding, rights offering and new reporting
requirements regarding exempt market distributions; (iii)
delivering effective compliance, supervision and enforcement,
including by taking steps to improve the OSC's case management
and adjudicative processes; (iv) promoting financial stability,
including by implementing rules and a compliance program for OTC
derivatives trade reporting and developing a registrant regulation
framework for derivatives market participants; and (v) being an
innovative, accountable and efficient organization.
The OSC is accepting comments on its draft statement of
priorities until June 1, 2015. For more information, see OSC Notice
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