The Ontario Securities Commission (OSC) has released its Statement of Priorities for 2012 – 2013, after considering responses to its request for comments on its earlier draft. The OSC has modified the Statement of Priorities to:
- Indicate that the implementation of key performance indicators will occur by fiscal year end, and
- Include more focus on court applications by the OSC for investor compensation.
FAIR Canada is very pleased that the OSC added a focus on investor compensation to its Statement of Priorities. Additionally, we find it encouraging that responses to the request for comment indicated strong support for the creation of the Office of the Investor and increased the OSC’s focus on investor concerns.
FAIR Canada is supportive of the enhancements to the Statement of Priorities over the past two years. We identified other important retail investor protection issues for regulators to focus on in the coming year, including the sale of group scholarship plans and leveraged sales of mutual funds, among others. We are optimistic that these issues will receive attention from regulators along with the ambitious priorities identified in the OSC’s Statement of Priorities for 2012 – 2013.
