OSC Publishes 2022-2023 Statement of Priorities
For Immediate Release OSC
TORONTO – The Ontario Securities Commission (OSC) today issued its 2022-2023 Statement of Priorities (SoP), detailing the four strategic goals and 23 priority areas on which the Commission will focus its resources and actions this fiscal year, as well as the expected outcomes. The final Statement of Priorities is included in the OSC's Business Plan for the Fiscal Years Ending 2023-2025, also published today.
“Our 2022-2023 priorities reflect a strong focus on initiatives that promote confidence in Ontario’s changing capital markets and that strive to make our regulatory framework responsive to financial innovation, and the needs of investors and market participants,” said OSC Chief Executive Officer Grant Vingoe. “In all our work, delivering strong investor protection remains a top priority.”
November 2021 Call for Stakeholder Feedback
On November 18, 2021, the OSC published its draft 2022-2023 Statement of Priorities for stakeholder comment and received 10 comment letters in response, which are available on the OSC website. These stakeholder comments have been considered and reflected in the final Statement of Priorities for the year to March 31, 2023, which is incorporated as within the OSC’s Business Plan.
Revisions and Updates to the Statement of Priorities
Since publishing the draft 2022-2023 Statement of Priorities, the OSC has incorporated changes, where appropriate, into the final 2022-2023 Statement of Priorities to address feedback from commenters. This includes adding a new priority to clarify how the OSC balances the importance of each of its mandates in its work and regulatory decision-making.
Additional revisions relate to greater engagement with, and integration of ideas from, Indigenous communities, as well as working towards an internal culture at the OSC that reflects the spirit of reconciliation. The OSC has also reprioritized initiatives under the goal to ‘Facilitate Financial Innovation’ to reflect where available resources and actions will be focused.
The OSC remains focused on its core regulatory work and will continue to be flexible and respond to emerging issues and changing market conditions.
The OSC will include the results of the 2021-2022 Statement of Priorities in the 2021 Annual Report, which is anticipated to be published in the fall of 2022.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, 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 http://www.osc.ca.
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