The Ontario Securities Commission (OSC) is asking market participants for input on streamlining the filing process, improving disclosure to investors and better harmonizing practices with regulators in other Canadian jurisdictions. Issuers, registrants, investors and affiliated stakeholders are invited to submit written comments to the OSC’s newly established Burden Reduction Task Force.
“Our markets and businesses are better able to compete, innovate and flourish when we lighten the regulatory load,” says Maureen Jensen, chair and chief executive officer of the OSC. “We are launching a wide-ranging consultation, with the support of our government, to identify new actions we can take to save time and money for Ontario businesses by eliminating rules and requirements that are outdated or unduly burdensome.”
This initiative is in addition to the OSC’s ongoing collaboration with the Canadian Securities Administrators (CSA) on reducing regulatory burden for the investment funds and public companies obliged to file documents on the SEDAR system. The OSC task force will accept responses to its online questionnaire until March 1, and plans a follow-up forum on March 27 to discuss the received suggestions.