The Ontario Securities Commission summarized over 100 concrete steps it took during the prior year to reduce regulatory burdens in the province’s capital markets. These items – some of which are completed while others are in progress – generally are aimed to reduce red tape; promote more tailored and flexible regulation; harmonize regulations among Canadian Securities Administrators members or internationally; provide improved and more accessible information regarding OSC’s requirements; and conduct more timely and focused reviews as part of compliance oversight or to obtain regulatory approvals. These measures were in response to recommendations by a Burden Reduction Task Force established by OSC in November 2018. OSC estimated that just 21 specific actions will save almost CAN $8 million in direct business costs.
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