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The
Ontario Securities Commission (OSC) is a
regulatory agencyRegulation 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
securitiesA 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,...
legislationLegislation is law which has been promulgated by a legislature or other governing body, or the process of making it...
in the Canadian province of
OntarioOntario 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 FinanceThe 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 investor
An 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 fraudIn 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 capital
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 public
In 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 investorAn 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...
confidenceConfidence 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 ExchangeToronto 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 regulation
Canadian 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 Administrators
The 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)
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 Commission
The 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...
External links