OSC extending consultation period on new enforcement tools

December 20, 2011

The Ontario Securities Commission announced yesterday that it is extending the public consultation period in respect of its proposed new enforcement initiatives. As we discussed in an October post, the OSC is currently considering, among other things, allowing cooperative respondents to resolve enforcement matters without admitting facts or to non-compliance with securities law (commonly known as a "no-contest" settlement).

Citing high levels of public interest in the proposals, the OSC has now extended the deadline for comments until January 16, 2012. Further, a policy hearing will be held to seek additional input. For more information, see OSC Staff Notice 15-705.

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