The Ontario Securities Commission is establishing a committee to advise small and medium-sized businesses in Ontario about securities regulatory issues they may face.

The Small Business Advisory Committee will deal with issues arising from the implementation of OSC Rule 45-501 Exempt Distributions, which took effect last fall to implement recommendations of a task force on the regulation of private placement financing. The committee also will serve as a forum for communication between the OSC and small business.

The committee will be chaired by Margo Paul, the OSC’s manager, corporate finance, who will serve a two-year term. It will be composed of 10 volunteers and is scheduled to meet four times a year.

The OSC is inviting representatives of small business, industry associations, law and accounting firms to apply for membership on the committee, indicating their areas of practice and relevant experience.

Members will serve two-year terms and are expected to have extensive knowledge of small business issues and a strong interest in securities regulatory policy as it relates to small business financing.

Applications should be submited by Aug. 31 to: Margo Paul, Manager, corporate finance,Ontario Securities Commission (416) 593-8136; mpaul@osc.gov.on.ca