FSRA and OSC Provide Update on Syndicated Mortgage Investments
For Immediate Release OSC
TORONTO – The Financial Services Regulatory Authority (FSRA) and the Ontario Securities Commission (OSC) are informing market participants about new timing for the transfer of regulatory oversight of certain syndicated mortgage investments to the OSC.
The change was expected to take place at the beginning of 2020. The new regulatory regime is now expected to be effective in July 2020, subject to requisite approvals. Additional details regarding the transfer will be provided next year.
Effective June 8, 2019, the Financial Services Regulatory Authority of Ontario (FSRA) has assumed the regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. Learn more about FSRA and our approach to achieving safety, fairness and choice in non-securities financial services at www.fsrao.ca
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. 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 www.osc.ca.