Roundtable on Reducing Regulatory Burden Related to Trading, Marketplaces, Issuer Requirements, and Derivatives

May 27, 2019

01:00 pm - 04:00 pm

Design Exchange, 234 Bay Street, Toronto, ON M5K 1B2

This roundtable is part of the Ontario Securities Commission’s ongoing consultation on reducing regulatory burden in Ontario’s capital markets and improving the investor experience.

In this working meeting, senior OSC staff will discuss how the OSC is considering the evaluation and prioritization of the burden reduction opportunities identified during the consultation process on OSC Staff Notice 11-784 Burden Reduction. This will be a collaborative discussion that will allow market participants and investor representatives the opportunity to provide real time feedback on the OSC’s approach to reducing regulatory burden.

This roundtable will be moderated by OSC Vice-Chair Grant Vingoe and will focus on trading, marketplaces, issuer requirements, and derivatives. Susan Greenglass, Director, Market Regulation will join Kevin Fine, Director, Derivatives, Sonny Randhawa, Director, Corporate Finance and Pat Chaukos, Deputy Director, OSC Launchpad|Policy to provide an overview of how their respective branches are considering the potential burden reduction initiatives identified by stakeholders and by staff.

The discussion will cover several specific topics that emerged in the consultation process.

Roundtable Transcript

This event follows the roundtable on May 6, 2019 to discuss topics related to registration, compliance and investment funds.

Agenda

1:00 pm	Opening remarks Naizam Kanji, Special Advisor to the Chair, Regulatory Burden Reduction, OSC
1:10 pm	Open Discussion Moderator: Grant Vingoe, Vice-Chair, OSC Topics: Interacting with multiple regulators and potential ways the OSC can streamline reviews and reduce regulatory duplication in a global environment Working with the OSC: exploring performance including service standards, processes, points of contact and outreach Streamlining regulatory filings requirements, such as trade reporting, reports of exempt distribution, continuous disclosure and other filings
2:10 pm	Questions from the audience
2:20 pm	Break
2:35 pm	Open Discussion, continued Topics: Prospectus reviews and opportunities to increase certainty for issuers Electronic delivery of documents Technological improvements to national systems and the OSC website Additional topics, as time permits
3:35 pm	Questions from the audience
3:50 pm	Closing Remarks Maureen Jensen, Chair & CEO, OSC

Confirmed roundtable participants include:

Moderator: Grant Vingoe, Vice-Chair, OSC

Naizam Kanji, Special Advisor to the Chair, Regulatory Burden Reduction, OSC
Pat Chaukos, Deputy Director, OSC LaunchPad|Policy, OSC
Kevin Fine, Director, Derivatives, OSC
Susan Greenglass, Director, Market Regulation, OSC
Sonny Randhawa, Director, Corporate Finance, OSC
Srijan Agrawal, Director, RBC Capital Markets
Loui Anastasopoulos, President, Capital Formation, TMX Group
Jamie Anderson, General Counsel & Corporate Secretary, Canadian Securities Exchange
Nancy Anderson, VP Financial Reporting & CFO, REALPAC
Cole Diamond, CEO, Coinsquare
Denis Frawley, Member, PDAC Securities Committee
Sony Gokhale, General Counsel, Supreme Cannabis
Harvey Naglie, Member, OSC Investor Advisory Panel
Alex Perel, Head of ETF Services, Scotiabank
Cindy Petlock, Chief Legal Officer, NEO Exchange
Victoria Pinnington, SVP, Market Regulation, IIROC
Manoj Pundit, Partner, Corporate Finance & Securities, Borden Ladner Gervais LLP
Tim Reibetanz, Senior Counsel, Bank of Montreal
Nick Savona, Chief Compliance Officer, Independent Trading Group (ITG), Inc.
Bassem Shakeel, Vice-President & Corporate Secretary, Magna International
Matt Thompson, Chief Compliance Officer, Nasdaq Canada
Kuno Tucker, Chief Compliance Officer, MATCHNow