Ontario Securities Commission Outlines Compliance Review Priorities for Upcoming Year

The Ontario Securities Commission has released a report outlining its compliance review priorities for the upcoming year. One key area of focus is on the implementation of client-focused reforms (CFRs) that are set to take effect at the end of this year.

The commission's report notes that while some firms may experience difficulties in implementing the new requirements, regulators will look favorably upon those who demonstrate good faith efforts to comply. This approach recognizes that some firms may need more time to resolve implementation issues.

In addition to CFR compliance, the OSC has identified several other areas for review, including online advice and trading platforms, high-risk registrants, and crypto-trading firms. The commission is working to implement an efficient process for onboarding these firms and will provide transparency regarding its progress.