Winnipeg Free Press By: Jon Victor, The Canadian Press Posted:
Last Modified: 3:37 PM CST Wednesday, Jan. 27, 2021
After a 10-month review, a task force commissioned by the Ontario government has issued a range of sweeping recommendations to reform the province s securities regulator.
Rod Phillips, then Ontario s Minister of Finance, returns to Premier Doug Ford s office after the provincial government s daily briefing in Toronto on Monday, June 15, 2020. THE CANADIAN PRESS/Chris Young
After a 10-month review, a task force commissioned by the Ontario government has issued a range of sweeping recommendations to reform the province s securities regulator.
The Capital Markets Modernization Task Force s more than 70 recommendations include major governance changes to Ontario Securities Commission. These include splitting the agency s adjudicative and regulatory enforce
Jon Victor
Rod Phillips, then Ontario s Minister of Finance, returns to Premier Doug Ford s office after the provincial government s daily briefing in Toronto on Monday, June 15, 2020. THE CANADIAN PRESS/Chris Young January 27, 2021 - 1:37 PM
After a 10-month review, a task force commissioned by the Ontario government has issued a range of sweeping recommendations to reform the province s securities regulator.
The Capital Markets Modernization Task Force s more than 70 recommendations include major governance changes to Ontario Securities Commission. These include splitting the agency s adjudicative and regulatory enforcement roles by separating its CEO and chairman positions, and creating an adjudicative body within the OSC to rule on alleged securities act violations.
The recommendations we have made are generational in their impact on the Ontario capital markets, Walied Soliman, the task force s chairman, said in the report.
The task force also suggests expanding the agency s mandate to include growing the capital markets and augmenting its regulatory function. The task force recommends that the agency change its name to the Ontario Capital Markets Authority to reflect the broader mandate.
The task force was commissioned in 2019 by Ontario s finance minister, with the goal of encouraging growth and competition in the province s capital markets. Ontario s capital markets regulatory framework hadn t been reviewed since 2003, the report says.
Task force recommends sweeping reforms to OSC
Jon Victor, The Canadian Press Ontario Securities Commission OSC , The Canadian Press
After a 10-month investigation, a task force commissioned by the Ontario government has issued a range of sweeping recommendations to reform the province s securities regulator.
The Capital Markets Modernization Task Force s more than 70 recommendations include major governance changes to Ontario Securities Commission. These include splitting the agency s adjudicative and regulatory enforcement roles by separating its CEO and chairman positions, and creating an adjudicative body within the OSC to rule on alleged securities act violations. The recommendations we have made are generational in their impact on the Ontario capital markets, Walied Soliman, the task force s chairman, said in the report.