The Ontario Securities Commission (OSC) has released its 2019-2020 Statement of Priorities, setting out four regulatory goals.
These include: promoting confidence in the province’s capital markets, reducing the regulatory burden, facilitating financial innovation and strengthening the OSC’s organizational foundation.
The draft includes 15 priority areas where the OSC plans to focus resources and actions in the 2019-2020 fiscal year, as well as the expected outcomes.
“Our agenda is centred on streamlining regulations to enhance the experience of those who invest and do business in Ontario,” said Maureen Jensen, chair and CEO of the OSC. “The OSC will continue to seek opportunities to make regulation easier and less costly for market participants while protecting investors,” said Chair Jensen.
Investor protection and promoting capital markets high on the agenda
The majority of OSC resources are centred on delivering core regulatory work to maintain high standards of investor protection and promote confidence in Ontario’s capital markets.
The priorities aim to reduce the regulatory burden through both an OSC Task Force and the Canadian Securities Administrators (CSA), engaging with innovative businesses, expanding systemic risk oversight of derivatives and contributing to the redevelopment of the CSA’s National Systems.
Also among the priorities are improving the experience of retail investors, timely and impactful enforcement actions, the implementation of an alternative funds regime and the launch of the first phase of the Market Analysis Platform (MAP), a national system that will inform policy research and assist CSA members with investigations.