The Ontario Securities Commission is seeking comment on proposed guidelines for situations where the executive director approves early enforcement settlements.

The early settlement of enforcement matters (before formal proceedings are launched), and the approval of such settlements, is an exercise of staff discretion and is outside the commission’s adjudicative process.

However, the OSC is proposing guidelines that would deal with the nature of matters that may be resolved by an executive director’s settlement; and, the factors the executive director should consider in approving such a settlement, among other things.

The proposed guidelines have been developed by the commission to both encourage early settlements, and to improve transparency, it says. The guidelines are out for a 60 day comment period.