The Ontario Securities Commission (OSC) and the Financial Services Regulatory Authority of Ontario (FSRA) have updated the timeline for the handover of responsibility of oversight of syndicated mortgage investments from FSRA to the OSC.
The handover which was to occur at the start of 2020 is now expected to effective July 2020, subject to approvals. Both regulators will provide further details on a going-forward basis.The intention to transfer syndicated mortgages to the OSC’s jurisdiction was first announced in the April, 2017 provincial budget.
The complete text of the announcement can be found on the website of the Ontario Securities Commission.
For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.
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