OSC publishes Summary Report for Dealers, Advisers and Investment Fund Managers

The Ontario Securities Commission (OSC) today published OSC Staff Notice 33-750 Summary Report for Dealers, Advisers and Investment Fund Managers, which provides information to help firms comply with requirements under Ontario securities law.

The report discusses important matters impacting registration, information from compliance reviews, and policy initiatives that affect registrants. The report also outlines the areas that the OSC intends to cover in its reviews over the coming fiscal year.

“This year, we will focus our reviews on suitability assessments, the compliance structures of newly integrated firms, high-risk firms, and those whose operations have a significant impact on our capital markets,” said Debra Foubert, Director of Compliance and Registrant Regulation at the OSC.

In response to feedback from registrants, the OSC has updated this year’s report to include an organizational chart to help market participants and other stakeholders easily connect with staff from the OSC’s Compliance and Registrant Regulation branch. Additionally, registrants are now able to extract content directly from the report for use in their internal communications.

The OSC’s Registrant Outreach program gives registrants the opportunity to hear first-hand from the OSC about compliance-related matters. Details about upcoming outreach seminars, as well as materials from past seminars, are available on the OSC’s website.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, 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 company offering an investment opportunity and to review the OSC investor materials available here.

Source: Ontario Securities Commission