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ARTICLE · 15 AUGUST 2017

Responsive Market Regulation – Comments On 2017 OSC Paper

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In a world where money flows rapidly between established markets and a growing number of innovative markets in multiple jurisdictions, it is an increasing challenge for regulators to "keep up" with capital market regulation ...

CanadaFinance and Banking
Heather Zordel
Heather Zordel
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In a world where money flows rapidly between established markets and a growing number of innovative markets in multiple jurisdictions, it is an increasing challenge for regulators to “keep up” with capital market regulation and to protect investors while fostering fair and efficient capital markets and confidence in capital markets. Ontario Securities Commission (OSC) personnel recently published some “big picture” thinking on this challenge in an April 2017 paper presented at Oxford University called A Framework for Responsive Market Regulation by Timothy Baikie, Tracey Stern and Maureen Jensen (the “Paper”).

The Paper is about trading. It submits that “A regulator’s raison d’être is not simply to respond to market issues but to understand the changes and business drivers in the marketplace and to have the courage to foster a responsive regulatory climate that allows innovation to occur while ensuring core principles such as investor protection are preserved, and

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