The Ontario Securities Commission (OSC) announced today that its Mediation Program, which began as a pilot in 2015, will now continue on a permanent basis.
The Mediation Program, the first and only of its kind in Canada offered by a securities regulator provides a forum for respondents who are represented by counsel and enforcement staff involved in OSC enforcement proceedings with an option to seek a resolution through an independent third-party mediator. The goal of the program is to resolve outstanding enforcement matters in a timely, efficient and cost-effective way.
According to CSA staff, the Mediation Program has been successful in achieving these aims.
The program allows a mediator, selected from a published roster, to help facilitate the negotiation of settlement terms, an agreed statement of facts, and resolve other enforcement issues. The program is generally available to any respondent, and the OSC encourages its use at the earliest opportunity.
For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.
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