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ARTICLE · 13 APRIL 2023

Break's Over – New OSC Service Commitments

Borden Ladner Gervais LLP
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The Ontario Securities Commission (OSC) published its 2023 Annual Service Commitment Review on March 21, 2023. The OSC has updated its service standards and returned to pre-extension 2021 service timelines...

CanadaCompliance
AUM Law
AUM Law
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The Ontario Securities Commission (OSC) published its 2023 Annual Service Commitment Review on March 21, 2023. The OSC has updated its service standards and returned to pre-extension 2021 service timelines and targets for reviewing prospectus filings and applications for exemptive relief (excluding exemptions from recognition applications for market infrastructure entities). All service standard changes are effective April 1, 2023, except changes to prospectus-related standards which came into effect earlier on January 9, 2023.

Many of the 2023 updates detail changes to timelines relating to prospectus filings, where the working day standards have generally been reduced (along with certain review percentage targets). With respect to registrants, it is notable that no changes have been made to the extended timelines for new registration submissions for entities or individuals. With respect to acknowledgements for a filed Notice of End of Individual Registration or

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