The Toronto Star says in Friday’s edition that the legislative committee report on securities regulation, due to be released Oct. 18, will recommend sweeping changes.

The Star says that the report will recommend:

  • splitting out the Ontario Securities Commission’s adjudicative function, as recommended by the Osborne report;
  • building a tougher enforcement culture at the OSC;
  • reviewing the roles of both the Investment Dealers Association and the Mutual Fund Dealers Association;
  • developing a new mechanism for investors to seek redress;
  • civil liability for secondary market disclosure; and
  • requiring mutual funds to have a powerful independent board, including the right to fire fund managers for poor performance.



The Star says the committee has also endorsed calls for a single, national securities regulator.