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Ontario Government Proposes Significant Amendments to the Securities Act (Ontario)

November-7-2002

Area Corporate Finance and Securities

Summary


On October 30, 2002, the Government of Ontario introduced Bill 198, which includes significant amendments to the Securities Act (Ontario). These amendments form part of the response of the Government and the Ontario Securities Commission (OSC) to the passage in the United States of the Sarbanes-Oxley Act and are designed to restore what the Government and OSC perceive as lagging investor confidence in our capital markets. These amendments will impact virtually all participants in Ontario’s capital markets, including issuers, investors, directors, officers and auditors.

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