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|FOR IMMEDIATE RELEASE
March 24, 2020
Update on OSC operations in response to COVID-19
TORONTO – The Government of Ontario has announced an order requiring the mandatory closure of all non-essential workplaces effective Tuesday, March 24th at 11:59 p.m. Under the order, workplaces engaged in capital markets activities are considered to provide essential services and can remain open. As such, Ontario Securities Commission (OSC) staff continue to operate at the level necessary to deliver crucial services to the market and to protect Ontario investors.
The OSC is taking all necessary precautions to protect the health and safety of its employees and the public as we respond to challenges due to COVID-19. The majority of OSC staff are working from home at this time.
The extent to which firms choose to provide services through on-site personnel or other means are decisions to be made by each firm or organization.
The OSC, along with its Canadian Securities Administrators (CSA) partners, provided temporary blanket relief from certain regulatory filings on March 23, 2020. We will continue to be flexible during this extraordinary time. Questions with respect to regulatory expectations should be directed to our staff contacts listed here.
Investor protections and regulatory requirements remain fully in place and are critical to Ontario’s capital markets functioning fairly and efficiently.
We will publish further updates on our operations, as the situation develops.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.
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