OSC Requests New Members for Small and Medium Enterprises Committee

TORONTO – The Ontario Securities Commission (OSC) is seeking applicants for membership on its Small and Medium Enterprises Committee (SMEC), formerly known as the Small Business Advisory Committee.

OSC staff recognize the contribution of small and medium enterprises (SMEs), including both private companies and venture issuers, to economic growth and job creation in Ontario. We note that venture issuers constitute 43 per cent of Ontario’s reporting issuers, representing approximately $10.5 billion in market capitalization. It is important that we continue to keep pace with the challenges faced by SMEs and appreciate the importance of consulting with investors, industry participants and other stakeholders.

The SMEC advises OSC staff on matters related to SMEs, including the challenges they face in operating their business and raising capital. The committee discusses the development, implementation and communication of policies and practices to address these matters in the pursuit of capital market efficiency, investor protection and economic growth. For example, we are currently considering a proposal intended to tailor venture issuer disclosure to reflect the needs and expectations of investors and make disclosure requirements more manageable for venture issuers.

The SMEC is seeking approximately 15 members who will meet five times annually. Members will be selected for their extensive involvement with SMEs and their demonstrated interest in related policy matters. They should be knowledgeable about issues faced by venture issuers in complying with securities regulatory requirements and the obstacles that confront SMEs in the capital formation process. The SMEC is chaired by the OSC’s Lisa Enright, Manager, Corporate Finance Branch.

Representatives of SMEs, industry associations, professional advisors, investors and any other interested persons are invited to apply in writing for membership on the SMEC. Interested parties should submit their application indicating their areas of practice and relevant experience by March 30, 2012.

Applications and questions regarding SMEC may be forwarded in writing to:

Lisa Enright
Manager, Corporate Finance
Ontario Securities Commission
416-593-3686
[email protected]

Shaifali Joshi
Accountant, Corporate Finance
Ontario Securities Commission
416-595-8904
[email protected]

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