OSC’s Investor Advisory Panel Releases 2021 Annual Report
TORONTO – The Investor Advisory Panel (the IAP) today released its 2021 Annual Report summarizing its activities, submissions, consultations and meetings during the calendar year.
In 2021, the IAP focused on the ongoing impact of the COVID-19 pandemic on retail investors, and the implications of changes to the OSC’s mandate for its continuing investor protection mandate and its mandate to foster fair capital markets. Additionally, the IAP continued to focus on what it considers to be critical areas of investor protection, including: the design of the new self-regulatory organization, particularly governance and oversight mechanisms; advisor qualifications, misleading business titles and uncredentialed title use; strengthening dispute resolution for retail investors and the Ombudsman for Banking Services and Investments; and examining emerging transformative forces in the financial services sector that could reshape securities regulation and investor protection in Ontario.
In 2021, the IAP also published an initial report of its Horizon Project, an ongoing initiative to identify emerging disruptive influences – in new technologies, investment products, market strategies, business models, service modalities and other forms – that may impact investors either negatively or positively. The IAP’s goal in undertaking the Horizon Project is to advise the Commission on how it can best grapple with the challenges posed by these emerging influences, and how the Commission can promote change that may be beneficial for investor outcomes.
“The learnings so far from our Horizon Project reinforce our view that regulators must take an agile and timely approach to regulation to ensure it remains effective and relevant in times of disruptive change,” said IAP Chair Neil Gross. “We are optimistic about the potential for transformative forces to improve the investor experience if regulators are proactive and focused on investor protection above all else.”
About the IAP
The IAP is comprised of up to nine members appointed by a selection committee composed of the Chief Executive Officer of the Ontario Securities Commission and two Executive Directors following a public application process. Members of the IAP are appointed for terms of up to two years, with possible reappointment for one additional term. (See the 2021 IAP Annual Report for biographies of IAP members).