The OSC has published its 2016-2017 Draft Statement of Priorities.
The draft sets out the OSC’s five regulatory goals:
- deliver strong investor protection;
- deliver responsive regulation;
- deliver effective compliance, supervision and enforcement;
- promote financial stability through effective oversight; and
- be an innovative, accountable and efficient organization.
Of particular interest to advisors are these two action items noted in the report:
- finalize analysis of advisor compensation practices and identify those practices that appear inconsistent with current regulatory expectations; and
- publish and conduct consultations on proposed regulatory provisions to create a best interest standard.
Comments on the draft are due by May 9, 2016.
Also read:
Here’s what OSC cracked down on in 2015