The Ontario Securities Commission is encouraging market players to comment on consultation papers dealing with outsourcing in financial services, which were released by various international regulatory agencies earlier this month.

On August 2, the Standing Committee of the International Organization of Securities Commissions published for public comment a consultation report that proposes a set of principles designed to assist firms and regulators in dealing with outsourcing activities. Comments are due by September 20.

The OSC says, “We encourage the Canadian investment industry to provide comments”. And, it notes that it, and other members of IOSCO, will be surveying industry participants “for factual information regarding current outsourcing practices”.

The consultation report will be revised and finalized after consideration of all comments received from the public and all information gathered through the surveys conducted by IOSCO members.

A similar report was also released the same day by the International Joint Forum (which encompasses IOSCO, along with banking and insurance authorities).