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ARTICLE · 23 SEPTEMBER 2024

Proposed Amendments Would Allow Email Summons From The Ontario Securities Commission

Osler, Hoskin & Harcourt LLP
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Under section 163 of the regulations to the Securities Act, summonses issued pursuant to the Securities Act are required to be personally served.

CanadaFinance and Banking
Matthew Ritchie
Matthew Ritchie
Lauren Tomasich
Lauren Tomasich
Tamara Kljakic
Tamara Kljakic
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Following a recommendation from the province's Capital Markets Modernization Taskforce (the Taskforce), Ontario's Minister of Finance is proposing to ease the requirements for the Ontario Securities Commission (OSC) when delivering summonses in the course of enforcement investigations.

Delivery methods for summons in Ontario

Typically, the OSC is subject to stricter delivery requirements. Under section 163 of the regulations to the Securities Act, summonses issued pursuant to the Securities Act are required to be personally served. However, on September 3, 2024, the Ontario government published its proposed amendments to section 163 of Ontario Regulation 1015 of the Securities Act. In them, Ontario is seeking to revoke section 163 and broaden the OSC's methods for delivering summonses to individuals and companies, in addition to personal service.

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