OSC Investor Advisor Panel Report Focuses On Citizen (AKA Investor) Protection

On May 30, 2023, the Ontario Securities Commission's Investor Advisory Panel (IAP) released its report with respect to its activities in 2022 (the IAP Report). The IAP's mandate is to solicit and represent the views of investors on the OSC's policy and rule-making initiatives. It is noted in the IAP Report that the IAP held 11 meetings with OSC staff, made eight submissions or reports on proposed policies (four to the securities regulators and four to other bodies), and held 22 meetings with outside organizations.

The IAP Report focused on a number of areas where investor protection could be enhanced, including by:

• Granting binding decision making authority to the Ombudsman for Banking Services and Investments (OBSI) and mandating the use of OBSI as the single, fully integrated dispute resolution service for banking and investment related complaints;