The Ontario Securities Commission’s Investor Advisory Panel is reaching out to investors and canvassing their input on a variety of issues from fiduciary duty to restitution and securities enforcement.
The IAP has issued a call for comments about a number of investor issues. The panel says that public feedback is important to the fulfillment of its mandate, which is to represent the views of investors and provide input on the OSC’s policy initiatives.
“This feedback will assist us in our representation of investors’ views,” it says, “and in particular will assist us in formulating our responses to policy initiatives and the OSC’s annual statement of priorities.”
The list of suggested areas where it’s seeking comment includes policy issues such as: whether advisors should have a duty to act in their clients’ best interests; advisor proficiency requirements; performance reporting and other disclosure obligations; the role of regulators in securing investor restitution; enforcement issues such as the possible use of no-contest settlements, and efforts to encourage whistleblowers; corporate governance and shareholder democracy; and, the ombudservice.
Other possible topics concerning the OSC specifically, include: the contents of its draft statement of priorities; its new strategic plan, which includes establishing a new Office of the Investor; and, retail investor representation at the commission.
The panel is seeking comments by May 4.