January 27th, 2021
In February 2020, the Capital Markets Modernization taskforce was appointed by the Ontario government to provide “recommendations to reduce regulatory burden and ensure a level playing-field for all market participants, while improving investor experience and protection.”
After hearing from hundreds of stakeholders, releasing a consultation report, and receiving ongoing input by an expert advisory group, the final report includes 74 recommendations “intended to modernize Ontario’s capital markets and drive innovation, competition and diversity, resulting in job and wealth creation.”
The final report contains recommendations on governance, competitiveness, leveling the playing field between small and large market players, improving the proxy system, fostering innovation and modernizing enforcement. These are intended to address the challenges faced by businesses, intermediaries and investors alike. As of now, these are still just recommendations, and have not yet been adopted into law.
For more details, see the final report here.