TORONTO, April 26, 2022 /CNW/ – The Ontario Securities Commission (OSC) today released its Statement of Priorities (SP) 2022-2023, detailing the four strategic goals and 23 priority areas on which the Commission will focus its resources and its actions during this financial year, as well as the expected results. The final statement of priorities is included in the OSC Business Plan for the fiscal years ending 2023 to 2025also released today.
“Our 2022-2023 priorities reflect a strong focus on initiatives that build trust in from Ontario evolving capital markets and striving to adapt our regulatory framework to financial innovation and the needs of investors and market participants,” said the OSC CEO. Grant Vingoe. “In all of our work, providing strong investor protection remains a top priority.”
November 2021 Call for Stakeholder Comments
On November 18, 2021the OSC released its draft 2022-2023 Statement of Priorities for stakeholder comment and received 10 response letters of comment, which are available on the OSC website. These stakeholder comments were taken into account and reflected in the final statement of priorities for the coming year. March 31, 2023which is integrated into the OSC’s business plan.
Revisions and updates to the Statement of Priorities
Since the release of the draft 2022-2023 Statement of Priorities, the OSC has incorporated changes, where appropriate, into the final 2022-2023 Statement of Priorities to respond to commenters’ comments. 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 focus on increased engagement with and integration of ideas from Indigenous communities, as well as the creation of an internal culture at the OSC that reflects the spirit of reconciliation. The OSC has also reprioritized initiatives under the “Enabling Financial Innovation” objective 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 responsive 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 expected to be released in the fall of 2022.
The OSC’s mandate is to protect investors against unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in capital markets, to promote capital formation and to contribute to the stability of the financial system. and reducing systemic risk. Investors are urged to verify the registration of any person or company offering an investment opportunity and to consult the OSC Investor Materials available at http://www.osc.ca.
Ontario Securities Commission
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