OSFI proposes revisions to capital rules for life insurers

The Ontario Securities Commission (OSC) is proposing changes to the rules that guide how disciplinary proceedings and other hearings are carried out.

Specifically, the OSC published a proposed new set of procedural rules and guidelines on Thursday that aim to help unrepresented respondents in an OSC hearing participate in the proceedings.

“The rules and guideline have been simplified to improve fairness and accessibility, particularly for a broad range of respondents with differing backgrounds and levels of representation,” the OSC says in a notice.

The proposals also incorporate recent guidelines on electronic submissions, the use and disclosure of personal information, and case-management timelines for enforcement proceedings, the OSC’s notice states.

For example, the OSC’s approach to case management for enforcement proceedings, which aims to identify and resolve certain issues at an early stage, will expand to all types of proceedings.

“The OSC is committed to ensuring that proceedings are accessible to stakeholders, and that our procedures reflect evolving best practices,” says Grace Knakowski, secretary to the OSC, in a statement.

The proposals are being published for a 60-day comment period ending June 19.

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