The Ontario Securities Commission (OSC) works closely with other Canadian securities regulators with a view to harmonizing our legislation and regulatory practices for the benefit of the Ontario and Canadian capital markets and its investors. We also work with various law enforcement agencies, sharing information and facilitating investigations across jurisdictions.
As required, we also co-ordinate our efforts with the Department of Finance Canada, the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Bank of Canada when developing regulatory responses intended to promote financial stability in areas identified by the G20 and the Financial Stability Board (FSB).
Canadian Securities Administrators (CSA)
The OSC is an active member of the Canadian Securities Administrators, which is a forum comprised of the 13 securities regulators of Canada’s provinces and territories. The CSA works to foster a nationally coordinated and modernized securities regulatory framework.
Policy Coordination Committee (PCC)
The CSA established the Policy Coordination Committee which oversees the CSA’s policy development initiatives, facilitates decision making and provides timely resolution on policy development matters. Its members are the chairs of eight regulators (British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, New Brunswick and Nova Scotia). The PCC is currently chaired by the OSC Chair.
CSA Standing and Project Committees
Through participation in CSA Committees (permanent and project committees), OSC staff work alongside CSA members on the development of policy and the delivery of regulatory programs. Standing committees include: Market Oversight, Registration Regulation, Investment Funds, Investor Education and Enforcement.
The OSC participates in various project committees dealing with specific policy initiatives, including regulatory burden reduction efforts and enhanced investor confidence and protection.
Heads of Regulatory Agencies (HoA)
The Heads of Regulatory Agencies serves as a federal-provincial forum for the discussion of financial sector issues. The HoA is chaired by the Governor of the Bank of Canada and includes the Department of Finance Canada, the Office of the Superintendent of Financial Institutions, the Québec Autorité des Marchés Financiers, the OSC, the Alberta Securities Commission, and the British Columbia Securities Commission. The OSC is also a member of the Systemic Risk Surveillance Committee which was created by the HoA to collaborate and share information on the assessment of vulnerabilities and risks to the Canadian financial system.
Self-regulatory organizations (SROs)
Self-regulatory organizations are organizations that regulate the operations and the standards of practice and business conduct of their members and their representatives. The OSC oversees the operation of two SROs:
- Investment Industry Regulatory Organization of Canada (IIROC)
- Mutual Fund Dealers Association of Canada (MFDA)
Joint Forum of Financial Market Regulators
The CSA is a member of the Joint Forum of Financial Market Regulators through which pension, securities and insurance regulators seek to coordinate, harmonize, and streamline the regulation of financial products and services in Canada.
Joint Serious Offences Team (JSOT)
The Joint Serious Offences Team is an enforcement partnership between the OSC, the RCMP Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. JSOT combines law enforcement policing skills with the OSC's expertise in forensic accounting and capital markets to investigate and prosecute serious violations of the law under Ontario’s Securities Act and Canada’s Criminal Code.
Memoranda of Understanding (MOUs)
The OSC has entered into a number of domestic Memoranda of Understanding with organizations in Ontario and other Canadian jurisdictions.