Innovative fintech companies in Australia and Ontario will be able to draw on support from the combined resources of their financial regulators as they seek to operate in the others’ market, under a new agreement. Under the agreement, signed in Toronto this week, the Australian Securities and Investments Commission (ASIC) and the Ontario Securities Commission…
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The Ontario Securities Commission (OSC) has approved a no-contest settlement agreement with CIBC World Markets Inc., CIBC Investor Services Inc. and CIBC Securities Inc. (the CIBC Dealers) in relation to a matter that the CIBC Dealers discovered and self-reported to the OSC, and that resulted in certain clients paying excess fees. This settlement follows allegations…
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The Ontario Securities Commission has unveiled OSC LaunchPad, the first dedicated team by a securities regulator in Canada to help fintech businesses navigate securities law requirements and accelerate time-to-market. OSC LaunchPad will provide direct support to eligible new and early-stage fintech businesses that provide innovative services, products and applications of benefit to investors. The support…
Read moreOntario Securities Commission (OSC) Chair and Chief Executive Officer (CEO) Maureen Jensen announced today the appointment of Jeff Kehoe as Enforcement Director, effective October 11, 2016. Jeff has over a decade of experience overseeing the Canadian capital markets as Director and Vice President of Enforcement at the Investment Industry Regulatory Organization of Canada (IIROC). Prior…
Read moreThe Ontario Securities Commission (OSC) has launched the Office of the Whistleblower, the first paid whistleblower program by a securities regulator in Canada. The OSC also published OSC Policy 15-601 Whistleblower Program, which outlines the program’s eligibility criteria and reflects input received from stakeholders on the program. The OSC’s whistleblower program offers compensation of up…
Read moreCanada's largest provincial financial regulator, the Ontario Securities Commission (OSC), has issued three new investor warnings against unlicensed binary options brokers. The OSC typically issues warnings regarding unlicensed companies that appear to be engaging in activities that may pose a risk to investors in its jurisdiction, and which are apparently targeting Canadian traders. The OSC's updated…
Read moreThe Ontario Securities Commission (OSC) continues to add unlicensed Forex brokers to its Warning List. Less than a month after one of the strictest Canadian financial regulators issued a warning against retail forex broker Sumo Forex Limited, the watchdog publishes a warning against CMS Ventures Limited (also known as Pandorx Ventures Ltd.) The company is…
Read moreCanada’s leading securities regulator, the Ontario Securities Commission (OSC), has continued its recent crusade against unregulated binary options brokers. The OSC has issued two new warnings, the first being against UK-based DSMG Limited, doing business as Binary Brokerz at website binarybrokerz.com, citing as well the company's affiliate website at brokerz-affiliates.com. The second warning was for Redtulips Consultants Ltd., doing…
Read moreThe Ontario Securities Commission (the OSC) is joining the raft of global regulators encouraging reports of securities-related misconduct. On Wednesday, the OSC published Proposed OSC Policy 15-601 Whistleblower Program, a set of rules that would be the first of its kind for securities regulators in Canada. Under the proposed policy, eligible whistleblowers are entitled to…
Read moreAfter five years, Howard I. Wetston, Q.C., Chair and CEO of the Ontario Securities Commission (OSC) will reach the end of his term on November 14, 2015. In a letter to OSC staff and Commissioners, Mr. Wetston said that he was proud of the organization’s many accomplishments during his term. “It has been an honour…
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