Goals include streamlining regulations and levelling the playing field for small and medium-sized businesses
The Ontario government has appointed a task force to lead the first review of securities regulation in the province in more than 15 years.
The aim is to “modernize and streamline” capital markets regulation by targeting regulatory burdens that stifle innovation and levelling the playing field for small and medium-sized businesses that make up the majority of Ontario’s capital market participants.The five-member task force, which includes the Canadian chair of a major Bay Street law firm, the founder of a shareholder advisory firm, and a senior insurance executive, will publish a report this summer for public consultation.
“Ontario’s Securities Act has not been updated in over 15 years and has not kept pace with rapid change in global capital markets,” Phillips said Thursday. “Ontario needs capital markets to attract and grow businesses that support and sustain an innovation economy that can compete for investment and talent worldwide.
The 12-member expert advisory group also includes Sian Burgess, senior vice president of fund oversight at Fidelity Canada, and Rosemary Chan, senior vice president of internal control and regulatory affairs in global wealth management at Bank of Nova Scotia, as well as Jeffrey Steiner, president of Angel Investors Ontario.
The securities regulation review, which was announced by Doug Ford’s government in its fall economic statement last year, will move ahead largely without the head of the province’s capital markets watchdog. Maureen Jensen announced last month that she would be stepping down as chair of the Ontario Securities Commission in April, about 10 months before the end of her current contract.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PSG beats Nantes to move 15 points ahead; Lille wins - TSN.caMauro Icardi ended his scoring drought with a lucky deflection as runaway French league leader Paris Saint-Germain won 2-1 at Nantes on Tuesday to move 15 points clear.
Read more »
Father of 15-month-old baby on emotional roller-coaster as family heads to Wuhan airportThe father of a 15-month-old baby who is in the city at the centre of a deadly viral outbreak says he experienced a roller-coaster of emotions from fear to frustration and relief in the span of about two hours.
Read more »
Rolling Stones coming to Vancouver during their 15-city North America tourThe Rolling Stones are coming to Vancouver and returning to some North American cities where they haven't played in years as part of their No Filter tour.
Read more »
As Ontario teacher strikes grow more frequent, here's how the dispute could unfold | CBC NewsClasses are cancelled today for nearly one million elementary school kids, as Ontario's biggest teachers union holds its first province-wide strike.
Read more »