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ARTICLE · 14 MARCH 2016

OSC Reports Increase In Enforcement Activity For 2015

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This week the Ontario Securities Commission (OSC) announced ​an increase in enforcement activity by the regulator in 2015.

CanadaCorporate/Commercial Law
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
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This week the Ontario Securities Commission (OSC) announced an increase in enforcement activity by the regulator in 2015. In 2015 the OSC commenced proceedings in 31 cases (18 before the Tribunal and 13 before the courts), compared to 22 in 2014. The 13 proceedings before the courts include 10 prosecutions pursuant to the Securities Act and 3 prosecutions pursuant to the Criminal Code. Further, in 2015, eight individuals were sentenced in criminal or quasi-criminal matters including conditional and probationary sentences, as well as a three-month custodial sentence for breach of a Commission order.

The OSC has introduced new initiatives to assist with its role as regulator of the financial markets including no-contest settlements, and a mediation pilot program. These initiatives are aimed at encouraging self-reporting and early resolution of enforcement issues.

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