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Summary Report for Dealers, Advisers, and Investment Fund Managers Released by the Ontario Securities Commission

Regulation | Aug 2, 2023

OSC - Summary Report for Dealers, Advisers, and Investment Fund Managers Released by the Ontario Securities Commission

The Ontario Securities Commission (OSC) has published its 2023 summary report for dealers, advisers and investment fund managers.

The report provides information to help registrants comply with requirements under Ontario securities law. It discusses important matters impacting registration, outcomes from compliance reviews, and areas of focus for the OSC’s Compliance and Registrant Regulation staff in the coming fiscal year.  The report covers several key areas, including:

  • Summary Report Publication: The OSC has published its 2023 summary report for dealers, advisers, and investment fund managers to help them comply with Ontario securities law.

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  • Responsibilities of the Compliance and Registrant Regulation Branch: This branch is responsible for the registration and ongoing regulation of firms and individuals involved in trading, advising on securities or commodity futures, and managing investment funds in Ontario.
  • Annual Report Highlights: The report discusses important matters related to registration, outcomes from compliance reviews, and the OSC's focus areas for the coming fiscal year.
  • In-Person Compliance Reviews: The OSC has reintroduced an in-person component to compliance reviews, although electronic means will still be used for collecting materials.
  • New Operational Team: A new team has been formed to focus on specialized dealer business models, such as derivatives dealers and restricted dealers.
  • Future Priorities: The OSC will prioritize reviewing know-your-client, know-your-product, and suitability determination requirements. It will also conduct compliance reviews of crypto asset trading platforms and high-risk firms.
  • Registrant Outreach Program: This program continues to be a priority, providing tools and programs to help registrants with compliance obligations, including outreach sessions and educational webinars.
  • OSC's Mandate: The OSC's mandate includes protecting investors from unfair practices, fostering fair and efficient capital markets, fostering capital formation, and contributing to financial system stability.

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This summary provides a comprehensive overview of the OSC's activities, priorities, and initiatives for the coming year, reflecting a focus on compliance, investor protection, and adapting to the evolving financial landscape.

Download the 63 page PDF report --> Now


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