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ARTICLE · 18 MARCH 2014

OSC Confirms New Enforcement Initiatives

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The Ontario Securities Commission issued Staff Notice 15-702, Revised Credit for Cooperation Program.

CanadaCorporate/Commercial Law
Andrew Gray
Andrew Gray
Rebecca Wise
Rebecca Wise
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On March 11, 2014, the Ontario Securities Commission (OSC) issued Staff Notice 15-702, Revised Credit for Cooperation Program, which clarifies self-reporting procedures and Staff's expectations in respect of cooperation with investigations. Staff Notice 15-702 also sets out significant new enforcement tools that will allow Staff of the OSC to resolve more enforcement matters more efficiently: no-contest settlements and no-enforcement action agreements.

The original notice describing these initiatives was issued on October 21, 2011 and a public policy hearing was held on June 17, 2013 (as reported in a 2013 Torys bulletin OSC Considers Enforcement Initiatives).

Self-Reporting and Cooperation

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