Ontario government wants to beef up the enforcement powers of the OSC

(October 10, 2002) The Ontario government will introduce proposed legislation to give the Ontario Securities Commission the power to levy fines of up to $1 million, says the province’s finance minister.

Janet Ecker says Ontario will also look at increasing jail terms for securities violations and requiring chief executive officers to certify the financial results of public companies.

Ecker hopes the new legislation can be passed this fall. The minister, speaking this morning at an OSC conference in Toronto, also expressed support for a national securities regulatory system. Advisor.ca will have more on this story later today.

Filed by Jim MacDonald, Advisor.ca, jmacdonald@advisor.ca.

(10/10/02)