Ontario Securities Commission releases its 2024 Annual Service Commitment Review

TORONTO – The Ontario Securities Commission (OSC) today published its 2024 Annual Service Commitment Review. These standards provide investors, registrants and market participants with clarity on the timelines they can expect when interacting with the OSC.

The OSC reviews its Service Commitment on an annual basis, aligning with its fiscal year end. As part of this annual exercise, the OSC conducts a comprehensive review of its service standards and benchmarks against the standards of regulators in other leading jurisdictions. Throughout the year, the OSC remains responsive to various factors and market conditions and may update service standards as necessary. Performance results against these standards, including explanations where a target has not been met, are reported quarterly through the OSC website.  

The OSC is committing to returning to quicker response times for initial comments on new business registration applications by firms, as well as amendments to prospectuses after a final receipt has been issued by the OSC. Timelines for these activities are outlined in the ‘summary of changes’ within the 2024 Annual Service Commitment Review and will take effect from April 1, 2024. All other service standards remain unchanged. 

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.

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