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Home > Country profiles > Canada > Articles > Article detail

OSC Continues Mediation Program On A Permanent Basis

Sunday, 14th May 2018

"On April 9, 2018, the Ontario Securities Commission (OSC) announced that its Mediation Program, which began as a pilot program in May 2015, will be continuing on a permanent basis.

The Mediation Program is the first and only program of its type offered by a securities regulator in Canada. Beginning in 2015, the program provides respondents represented by counsel as well as enforcement staff with the option to seek resolution through an independent third party mediator. Mediations will only occur with the consent of Staff and participating respondents, who must be represented by counsel. The ultimate aim of the program is to resolve outstanding enforcement matters in an efficient and cost-effective way. With respect to costs, each party is to pay an equal portion of the total costs of the mediation.

Jeff Kehoe, Director of Enforcement at the OSC, delivered the following statement expressing optimism about eh continuing role of the mediation program:  "Our Mediation Program has proven to be successful in fostering fast and fair resolutions in appropriate cases. We're pleased to permanently add this valuable resource to our growing enforcement toolkit.""

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Source: Norton Rose Fulbright Canada LLP
Language: English
Contact: Geoff Mens

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