OSC Publishes 2016-2017 Statement of Priorities
For Immediate Release OSC
TORONTO – The Ontario Securities Commission (OSC) today published its 2016-2017 Statement of Priorities, which sets out priority areas where the OSC intends to focus key resources and actions for the coming fiscal year, as well as the expected outcomes.
The OSC received 23 comment letters on its draft 2016-2017 Statement of Priorities, which were taken into consideration in finalizing the document. The responses were broadly supportive of the overall direction, including support for the work of the OSC’s new Investor Office, improved regulatory harmonization, and a continued focus on achieving greater diversity on corporate boards.
The OSC also published its Report on the Statement of Priorities for Fiscal 2015-2016, which details the OSC’s performance against the priorities set out in its 2015-2016 Statement of Priorities and highlights key accomplishments. For example, the vast majority (93%) of decisions released on commission proceedings this past year were issued within six months of the hearing. Significant progress was made on the review of the client-advisor relationship with the publication by the OSC and the Canadian Securities Administrators of a consultation paper on a set of targeted amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. 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
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