Canada markets open in 8 hours 44 minutes
  • S&P/TSX

    18,484.53
    +154.44 (+0.84%)
     
  • S&P 500

    3,925.43
    +44.06 (+1.14%)
     
  • DOW

    31,961.86
    +424.51 (+1.35%)
     
  • CAD/USD

    0.8001
    +0.0011 (+0.14%)
     
  • CRUDE OIL

    63.47
    +0.25 (+0.40%)
     
  • BTC-CAD

    62,707.38
    -830.43 (-1.31%)
     
  • CMC Crypto 200

    1,001.83
    +7.17 (+0.72%)
     
  • GOLD FUTURES

    1,797.20
    -0.70 (-0.04%)
     
  • RUSSELL 2000

    2,284.38
    +53.07 (+2.38%)
     
  • 10-Yr Bond

    1.3890
    -1.3890 (-100.00%)
     
  • NASDAQ futures

    13,338.75
    +36.75 (+0.28%)
     
  • VOLATILITY

    21.34
    -23.11 (-100.00%)
     
  • FTSE

    6,658.97
    +33.03 (+0.50%)
     
  • NIKKEI 225

    30,115.20
    +443.50 (+1.49%)
     
  • CAD/EUR

    0.6565
    -0.0001 (-0.02%)
     

Ontario task force recommends sweeping reforms to province's securities regulator

·1 min read

TORONTO — 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 70 recommendations include major governance changes to Ontario Securities Commission, such as establishing an adjudicative body within the OSC to rule on alleged securities act violations.

The task force also recommends expanding the agency's mandate to augment its regulatory function, and changing its name to the Ontario Capital Markets Authority.

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.

In the report, the task force decried the lack of new securities issuers in Ontario, which they warned could lead to fewer head offices and fewer investment growth opportunities in the province.

Over the course of its investigation, the task force met with more than 110 different stakeholders as it was developing its recommendations.

This report by The Canadian Press was first published Jan. 22, 2021.

The Canadian Press