In its fall economic statement, the Ontario
Government has pledged to conduct a broad review the Securities
Act, R.S.O. 1990, c. S.5 for the first time in over 15 years.
Specifically, the Government has indicated that it will establish a
task force to solicit input from stakeholders, with a view to
creating "a modernized securities regulatory framework that is
responsive to innovation and changes in a rapidly evolving
marketplace".
The Government also announced that it would repeal the Toronto
Stock Exchange Act, and it would amend the Securities Act, in line
with the Capital Markets Plan, to allow the Ontario Securities
Commission (OSC) to issue blanket orders supporting greater
efficiency in capital markets. Finally, the Government announced
the OSC's Burden Reduction Task Force would soon deliver its
report outlining recommendations for short, medium and long term
initiatives to reduce regulatory burdens on businesses.