Investors


How we communicate about our investigations


If we determine that your complaint provides evidence of a potential violation of securities law, our investigation of the potential wrongdoing or breach will be done privately, and you may not learn the outcome.

In the event of suspected misconduct, we have a vigorous enforcement program to investigate potential breaches of securities law and commence proceedings before the Commission’s adjudicative tribunal or the Ontario Court of Justice.

In the ordinary course OSC Staff do not publicly disclose the existence of, or details about, an investigation. Some investigations may be compromised if disclosure is made before staff have an opportunity to carry out their work. Confidentiality of the investigation minimizes this risk.

Since not all investigations result in public proceedings it would be unfair to publicly comment or signal concerns. This minimizes potential harm to the reputations of those to whom the investigation relates if no proceedings are taken and provides fairness to all stakeholders.

Usually an investigation will only become a matter of public record if formal proceedings are commenced. Information about all proceedings is published on our website.

There are exceptional circumstances when disclosure of investigations may be made before the commencement of proceedings, as described in the OSC’s policy concerning staff disclosure of investigations (OSC Staff Notice 15-703 Guidelines for Staff Disclosure of Investigations).

For more information about the enforcement process please see the most recent Enforcement Report of the Canadian Securities Regulators.