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ARTICLE · 15 APRIL 2021

Amendments To The Ontario Capital Markets Modernization Taskforce Proposals

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The Taskforce also proposed the separation of the regulatory and adjudicative functions at the OSC.

CanadaFinance and Banking
Philippe Tardif
Philippe Tardif
Paul Mingay
Paul Mingay
Rebecca Cowdery
Rebecca Cowdery
Jacqueline Ting
Jacqueline Ting
Jennifer Jiang
Jennifer Jiang
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On March 24, 2021, the Ontario government released the 2021 provincial budget (the Budget), in which it announced it would proceed with certain proposals tabled by the Ontario Capital Markets Modernization Taskforce (the Taskforce) in its final report (the Final Report).

In particular, the Ontario government announced it is moving forward with legislative amendments to support the Taskforce's proposals to: (i) expand the mandate of the Ontario Securities Commission (OSC) to include competition and capital formation in order to facilitate economic growth; (ii) separate the OSC Chair and Chief Executive Officer position into two distinct roles; and (iii) separate the board and adjudicative responsibilities of the OSC.

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