TORONTO, May 3, 2024
/CNW/ - The Ontario Securities Commission (OSC) today released its
new strategic plan, setting out how the OSC will approach its work
over the next six years to achieve the best outcomes for
Ontario investors and capital
markets participants.
"Technological innovation, as well as changes in investor
behaviours and demographics have led to a substantial shift in
today's capital markets landscape, and the OSC must adapt in
response," said Kevan Cowan, Chair
of the OSC Board. "This plan builds on the work done in recent
years to modernize the OSC, and sets out a clear path forward that
is responsive to trends in the marketplace and sustainable over the
long term."
"Ontario businesses and
investors need an efficient, responsive and proactive capital
markets regulator in order to thrive and participate confidently in
our markets," said Grant Vingoe,
OSC CEO. "To address the growing
speed and complexity of our markets, we need to be bold and agile,
and equipped to represent the interests of Ontario's businesses and investors within
Canada and internationally."
The strategic plan sets out how the OSC will mobilize its
resources and expertise to deliver on its mandate amid ongoing
changes, opportunities, and risks. It centres on six strategic
goals, each introducing a varying degree of change from how the
Commission regulates today and leading to distinct outcomes
responsive to the market. The plan covers a six-year period to
provide transparency and stability for the OSC's stakeholders on
what they can expect from the regulator.
The OSC will continue to consult extensively with stakeholders
to shape annual priorities and receive input on policy areas.
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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SOURCE Ontario Securities Commission