The Ontario Securities Commission (OSC) has published its 2019 Annual Report (the Annual Report), providing a snapshot of the regulator’s initiatives and actions over the past year.
In the Annual Report, the OSC noted that in 2018 -2019:
• there were 68,366 registered individuals in Ontario;
• Ontario-based listed issuers account for 50% of Canada’s equity market value $362.2 billion in corporate bonds outstanding from Ontario-based issuers;
• 1,807 foreign firms operate in Ontario capital markets 63% of registered firms with head offices in Canada have their head office in Ontario; and,
• 95% of all Canadian over-the-counter (OTC) derivatives trading included an Ontario Market participant.
In terms of enforcement action, during the past year, the regulator reported that:
• 565 cases were assessed by the OSC’s Enforcement branch;
• 79 administrative sanctions were issued by the OSC;
• One no-contest settlement led to $11 million being returned to investors;
• 51 months of jail sentences were ordered; and,
• 22 individuals were banned from trading or serving as a director for an average of 10.5 years each.
The OSC Annual Report 2019 is available for download from the website of Ontario Securities Commission.
For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.
This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.