FSRA and OSC Provide Update on Syndicated Mortgage Investments
TORONTO – The Financial Services Regulatory Authority (FSRA) and the Ontario Securities Commission (OSC) are notifying market participants about new timing for the transfer of regulatory oversight of certain syndicated mortgage investments to the OSC.
The change was expected to take place in 2020 to coincide with final amendments to be published by the Canadian Securities Administrators (CSA). This timeline has been adjusted in light of COVID-19, and the new regulatory regime is now expected to be effective January 1, 2021, subject to requisite approvals.
Effective June 8, 2019, the Financial Services Regulatory Authority of Ontario (FSRA) has assumed the regulatory duties of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario. Learn more about FSRA and our approach to achieving safety, fairness and choice in non-securities financial services at www.fsrao.ca
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.