The Financial Post reports in its Tuesday edition that the Ontario Securities Commission kicked off a broad consultation Monday aimed at reducing costly and outdated rules and lightening the regulatory burden on companies. The Post's Barbara Shecter writes that the aim is "to identify new actions we can take to save time and money for Ontario businesses by eliminating rules and requirements that are outdated or unduly burdensome," said chairman Maureen Jensen in a statement. Ms. Jensen, who earlier announced the creation of a "burden reduction" task force in November, said a key area of focus for the OSC's consultation would target rules that may have become outdated or unnecessary. It would also look for opportunities to "streamline and improve" disclosure to investors, who she said ultimately bear the cost of unnecessary or outdated regulations. The OSC has a dual mandate to protect investors from unfair, improper or fraudulent practices, and to foster fair and efficient capital markets. On Monday, Ms. Jensen noted that the consultation is being done "with the support of our government." The OSC's plans to reduce the regulatory burden on companies predates Premier Doug Ford's election as Premier of Ontario last June.
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