Home Breadcrumb caret Industry News Breadcrumb caret Industry Ontario task force recommends sweeping reforms to province’s securities regulator List of 70 recommendations includes major governance changes to Ontario Securities Commission By The Canadian Press | January 22, 2021 | Last updated on January 22, 2021 1 min read istock/JHVEPhoto After a 10-month investigation, a task force commissioned by the Ontario government has issued a range of sweeping recommendations to reform the province’s securities regulator. The Capital Markets Modernization Task Force’s 70 recommendations include major governance changes to Ontario Securities Commission, such as establishing an adjudicative body within the OSC to rule on alleged securities act violations. The task force also recommends expanding the agency’s mandate to augment its regulatory function, and changing its name to the Ontario Capital Markets Authority. The task force was commissioned in 2019 by Ontario’s finance minister, with the goal of encouraging growth and competition in the province’s capital markets. In the report, the task force decried the lack of new securities issuers in Ontario, which they warned could lead to fewer head offices and fewer investment growth opportunities in the province. Over the course of its investigation, the task force met with more than 110 different stakeholders as it was developing its recommendations. The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo