The Ministry of Finance in Ontario (Ministry) released a consultation last month that would impact the time the public is afforded to comment on proposed rules released by either the Ontario Securities Commission (OSC) or the Financial Services Regulatory Authority of Ontario (FSRA). These regulators must currently provide for a minimum 90-day comment period, but the Ministry has proposed this be shortened to 60 days for "simple, straightforward" rules. The OSC and FSRA would still be able to have a longer consultation period for more complex rules. Comments will be accepted on the proposed legislative amendments until December 4.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
