Ontario Securities Commission
Encyclopedia
The Ontario Securities Commission (OSC) is a regulatory agency
which administers and enforces securities
legislation
in the Canadian province of Ontario
. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance
.
OSC Mandate:
The OSC administers the Securities Acthttp://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90s05_e.htm and the Commodity Futures Acthttp://www.osc.gov.on.ca/url/elaws-commodityact-on.html.
The OSC, with over 300 employees, is the largest securities regulator in Canada, and has the Toronto Stock Exchange
within its jurisdiction.
In 2001 the OSC established the non-profit organization Investor Education Fund (IEF) with the main purpose of providing Canadian’s with unbiased financial advice, tools and resources to improve financial literacy in Ontario.
Regulation
Regulation is administrative legislation that constitutes or constrains rights and allocates responsibilities. It can be distinguished from primary legislation on the one hand and judge-made law on the other...
which administers and enforces securities
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...
legislation
Legislation
Legislation is law which has been promulgated by a legislature or other governing body, or the process of making it...
in the Canadian province of Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance
Ministry of Finance (Ontario)
The Ministry of Finance is a portfolio in the Executive Council of Ontario commonly known as the cabinet. The Finance Minister is responsible for managing the fiscal, financial and related regulatory affairs of the Canadian province of Ontario...
.
OSC Mandate:
- Protect investorInvestorAn investor is a party that makes an investment into one or more categories of assets --- equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc...
s from unfair, improper and fraudFraudIn criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
ulent practices - Foster fair and efficient capitalCapital (economics)In economics, capital, capital goods, or real capital refers to already-produced durable goods used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process...
markets - Maintain publicPublicIn public relations and communication science, publics are groups of individuals, and the public is the totality of such groupings. This is a different concept to the sociological concept of the Öffentlichkeit or public sphere. The concept of a public has also been defined in political science,...
and investorInvestorAn investor is a party that makes an investment into one or more categories of assets --- equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc...
confidenceConfidenceConfidence is generally described as a state of being certain either that a hypothesis or prediction is correct or that a chosen course of action is the best or most effective. Self-confidence is having confidence in oneself. Arrogance or hubris in this comparison, is having unmerited...
in the integrity of those markets
The OSC administers the Securities Acthttp://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90s05_e.htm and the Commodity Futures Acthttp://www.osc.gov.on.ca/url/elaws-commodityact-on.html.
The OSC, with over 300 employees, is the largest securities regulator in Canada, and has the Toronto Stock Exchange
Toronto Stock Exchange
Toronto Stock Exchange is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalisation. Based in Canada's largest city, Toronto, it is owned by and operated as a subsidiary of the TMX Group for the trading of senior equities...
within its jurisdiction.
In 2001 the OSC established the non-profit organization Investor Education Fund (IEF) with the main purpose of providing Canadian’s with unbiased financial advice, tools and resources to improve financial literacy in Ontario.
See also
- Canadian securities regulationCanadian securities regulationCanadian securities regulation is managed through laws and agencies established by Canada's 13 provincial and territorial governments. Each province and territory has a securities commission or equivalent authority and its own piece of provincial or territorial legislation.Unlike any other major...
- Canadian Securities AdministratorsCanadian Securities AdministratorsThe Canadian Securities Administrators is an association of provincial and territorial securities regulators in Canada.-List of securities regulators:* BC: British Columbia Securities Commission*: jointly regulates the TSX Venture Exchange...
- Autorité des marchés financiers (Québec)Autorité des marchés financiers (Québec)The Autorité des marchés financiers is the body mandated by the government of Québec to regulate the province's financial markets and provide assistance to consumers of financial products and services....
- the other major securities regulator in Canada - British Columbia Securities CommissionBritish Columbia Securities CommissionThe British Columbia Securities Commission is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia.-See also:* Canadian securities regulation* Securities Commission...