three businessmen sitting at a table negotiating and signing a contract. handskake. mediation concept, dispute resolution

The Ontario Securities Commission’s (OSC) mediation program, which began as a pilot in 2015, will continue on a permanent basis, the provincial regulator announced on Monday.

“It is the first and only program of its type offered by a securities regulator in Canada,” the OSC says in a news release.

The OSC launched the initiative to enable respondents in regulatory enforcement proceedings to opt for an independent, third-party mediator to help resolve matters ion a timely, efficient and cost-effective way.

Mediators can help with the negotiation of settlements, the crafting of agreed statements of fact and resolving other enforcement issues.

“Our mediation program has proven to be successful in fostering fast and fair resolutions in appropriate cases,” says Jeff Kehoe, director of enforcement at the OSC, in a statement. “We’re pleased to permanently add this valuable resource to our growing enforcement toolkit.”

The OSC is seeking five mediators join the program’s roster, and is now accepting applications. The deadline to apply is April 30.