The Ontario Securities Commission (OSC) today published its annual Summary Report for Dealers, Advisers and Investment Fund Managers, which provides information to help registrants comply with requirements under Ontario securities law.
This year’s report was prepared by the OSC’s Registration, Inspections and Examinations Division (formerly the Compliance and Registrant Regulation Branch), which is responsible for the registration and ongoing supervision of firms and individuals who are in the business of trading in, or advising on, securities or commodity futures and firms that manage investment funds in Ontario.
The report discusses important matters impacting registration, outcomes from compliance reviews, and areas of focus for the Registration, Inspections, and Examinations Division for the coming fiscal year.
Key highlights from the past year include compliance reviews focused on the implementation of Client Focused Reforms and crypto asset trading platforms registered as restricted dealers. The report also provides additional guidance on several compliance topics, including what constitutes registerable activity and accounting for related party receivables in excess working capital calculations.
“This coming year, guided by insights from our Risk Assessment Questionnaire, we plan to prioritize reviews of firms identified as high-risk as well as large firms with significant assets under management and specialized dealers,” said Sonny Randhawa, Executive Vice President, Regulatory Operations.
The OSC’s Registrant Outreach program remains a priority, providing tools and programs to help registrants with their compliance obligations. Visit the Registrant Outreach webpage to access the Topical Guide for Registrants, a listing of Director’s decisions, or to obtain information about upcoming educational webinars.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or companies offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.
