OSC Signals Concerns About Gamification Of Investing

The delivery of investment services is evolving rapidly. In an all but completely digitized world, Canadians are increasingly turning to online trading platforms ("OTPs") that offer the ability to initiate trades at the push of a button through mobile applications. In addition to convenience, OTPs are associated with low commissions and trading fees when compared to traditional brokers.

In a Staff Notice released on November 17, 2022 (the "Notice"), the Ontario Securities Commission (the "OSC") signalled its concerns about the use of digital engagement practices to influence investment through tactics commonly referred to as "gamification". The Notice was issued in connection with a research report (the "Report") prepared by the Behavioural Insights Team in collaboration with the Investor Office Research and Behavioural Insights Team (IORBIT) of the OSC. The Notice suggests that gamification may induce investor behaviour, resulting in positive or negative