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ARTICLE · 29 DECEMBER 2025

OSC Provides Practical Takeaways For Issuers

Borden Ladner Gervais LLP
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The Ontario Securities Commission's (OSC) Corporate Finance Division 2025 Annual Report (Report) provides essential updates, regulatory guidance, and emerging trends...

CanadaCorporate/Commercial Law
Laura Levine
Laura Levine
Corbin Boes
Corbin Boes
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The Ontario Securities Commission's (OSC) Corporate Finance Division 2025 Annual Report (Report) provides essential updates, regulatory guidance, and emerging trends for reporting issuers and companies considering going public.

Takeaways

  • $58.4 Billion Raised in the Exempt Market.  Institutional investors were the most significant investors in 2025; however, individuals contributed nearly $3 billion to the exempt market. The accredited investor exemption accounted for 90% of all exempt capital raised.
  • Continuous Disclosure is Non-Negotiable.  The OSC's continuous disclosure review program (CDR Program) flagged common deficiencies across issuers, including disclosure related to geopolitical uncertainty, material contracts and forward-looking information.

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