OSC Gets More Teeth

The May 2 Ontario Budget announced the government’s intention to introduce legislative changes on various issues.

The proposed legislative changes include these three:

• Disclosure requirements for exchange traded funds (ETFs) are to be provided in concise plain-language, with comparable disclosure consistent with the requirements that apply to mutual funds
• A broadening of the definition of “market participant”
• Strengthening Ontario’s securities regulatory framework which will allow the Ontario Securities Commission (OSC) to become more efficient and responsive in their role as regulator.