(April 6 – 12:45 ET) – The Ontario government will hold a second round of consultations about the proposed merger of the Ontario Securities Commission and the Financial Services Commission of Ontariointo a single financial services regulator.

It will be based on draft legislation to be made available for public review and comment beginning
April 12, 2001. The deadline for submissions on the draft legislation will be June 29, 2001.

The new commission was first announced in the May 2000 Ontario Budget. It is being established to provide consistent consumer and investor protection across all financial sectors in the face of evolving financial services markets. A single regulator could enhance Ontario’s reputation as a good place to invest and do business.
-IE Staff