On November 4, 2015, a panel appointed by the Government of Ontario to review the mandate of provincial financial services regulators - the Financial Services Commission of Ontario, the Financial Services Tribunal and the Deposit Insurance Corporation of Ontario - published its preliminary position paper "Review of the Mandates of the Financial Services Commission of Ontario, Financial Services Tribunal, and the Deposit Insurance Corporation of Ontario”. The panel recommended the creation of a new provincial financial services regulatory agency (“Financial Services Regulatory Authority” to exercise both prudential and market conduct regulation, essentially replacing FSCO and DICO. Comments on the paper are due by December 14, 2015.
Ontario Securities Commission
The Ontario Securities Commission has reviewed many Ontario issuers' International Financial Reporting Standards financial reports and found them lacking in key respects. Based on first quarter 2011 IFRS filings, the OSC found three main deficiencies...
The Ontario Securities Commission has announced that it will undertake a review of corporate governance practices and environmental disclosure requirements in 2010, as part of a broader corporate sustainability reporting initiative. What's the significance of this announcement?