The Ontario Securities Commission today released a draft Statement of Priorities for the financial year ending March 31, 2016. 

The draft statement specifically identifies five regulatory goals for the following year, namely: (i) delivering strong investor protection, including by developing and evaluating regulatory provisions to create a best interest duty, developing targeted regulatory reforms under NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations to improve the advisor/client relationship and implementing pre-sale delivery of Fund Facts for mutual funds; (ii) delivering responsive regulation, including by publishing the results of the disclosure review and continuing to promote transparency and representation of women on boards, and developing and publishing rules to implement new prospectus exemptions, such as the offering memorandum exemption, crowdfunding, rights offering and new reporting requirements regarding exempt market distributions; (iii) delivering effective compliance, supervision and enforcement, including by taking steps to improve the OSC's case management and adjudicative processes; (iv) promoting financial stability, including by implementing rules and a compliance program for OTC derivatives trade reporting and developing a registrant regulation framework for derivatives market participants; and (v) being an innovative, accountable and efficient organization.

The OSC is accepting comments on its draft statement of priorities until June 1, 2015. For more information, see OSC Notice 11-771.