The Ontario Securities Commission announced yesterday that it is adopting a series of previously-proposed enforcement initiatives. The initiatives, discussed in an October 2011 post, include a new program for no-enforcement action agreements, the elimination of the explicit requirement for admissions in settlement agreements (thus allowing for no-contest settlements), a clarified process for self-reporting under the credit for cooperation program, and enhanced public disclosure by OSC Staff of credit granted for cooperation.

According to the OSC, the new tools will help the OSC resolve enforcement matters on a more timely basis. Further, the OSC stated that it is still considering the introduction of a whistleblower program. For more information, see OSC Staff Notice 15-704.