Ontario government balks as millions from investment scofflaws sits unspent

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 92%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Provincial government calls on the Ontario Securities Commission to spend more of what it collects as it has $123-million in the bank from settlements and sanctions levied, but it has only spent on $7-million on investor education

Ontario’s securities regulator has $123-million in the bank collected over the years from settlements and sanctions levied by its enforcement division. But in the most recent fiscal year, it spent just $7-million on investor education, payments to whistleblowers and compensation for harmed investors.needs to spend more of what it collects.

Currently, the OSC can allocate enforcement money to pay back harmed investors, fund investor education and advocacy organizations and compensate whistleblowers.The whistle-blower program began in 2016 and can award up to $5-million to individuals who report corporate misconduct. But it paid out just $481,092 in the 12 months ended March 31, according to the OSC’s financial statements. The commission used another $1.6-million for investor education and advocacy groups.

And it could help moderate fee increases for the companies the OSC regulates, the government says. Companies pay filing fees and other levies to fund the cost of regulation. “The proposed regulation would also allow the OSC to deliver on its expanded mandate with respect to fostering capital formation and competitive capital markets, without impacting its fees,” he said.

Expanding the uses of enforcement money by the OSC does not necessarily take away from its investor protection mandate, says Poonam Puri, law professor and chair in corporate governance at Osgoode Hall Law School, who launched the school’s Investor Protection Clinic. The clinic receives funding from the OSC.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 5. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Commission bans use of pro athletes to advertise or market igaming in OntarioAlcohol and Gaming Commission bans use of pro athletes to advertise gaming in Ontario
Fonte: TheTorontoSun - 🏆 23. / 68 Consulte Mais informação »

Commission bans use of pro athletes to advertise or market igaming in OntarioAlcohol and Gaming Commission bans use of pro athletes to advertise gaming in Ontario
Fonte: ottawasuncom - 🏆 4. / 92 Consulte Mais informação »

AGCO prohibits use of pro athletes to advertise, market igaming in OntarioThe Alcohol and Gaming Commission of Ontario has banned the use of athletes in the advertising and marketing of internet gaming in Ontario.
Fonte: TSN_Sports - 🏆 80. / 51 Consulte Mais informação »

AGCO prohibits use of pro athletes to advertise, market igaming in OntarioTORONTO — The Alcohol and Gaming Commission of Ontario has banned the use of athletes in the advertising and marketing of internet gaming in Ontario.
Fonte: SooToday - 🏆 8. / 85 Consulte Mais informação »