Ontario Securities Commission - Capital Markets Tribunal

Ministry

Finance

URL

www.osc.gov.on.ca

Address

20 Queen Street West, 20th Floor
Toronto
M5H3S8

Background

Securities Commission Act, 2021, S.O. 2021, c.8, Sched 9 (opens a new window)

Function

The Ontario Securities Commission (OSC) is a provincial agency that is responsible for regulating the capital markets in Ontario.  The OSC administers and enforces the Securities Act (Ontario) and the Commodity Futures Act (Ontario) and certain provisions of the Business Corporations Act (Ontario).  The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices; to foster fair, efficient and competitive capital markets and confidence in capital markets; to foster capital formation; and to contribute to the stability of the financial system and the reduction of systemic risk.

The Capital Markets Tribunal, responsible for the adjudicative function of the OSC, is established as a division of the OSC and is overseen by a Chief Adjudicator.  The Tribunal is assigned the power to conduct hearings and make decisions under Ontario securities law.

Membership

The Capital Markets Tribunal is composed of at least nine adjudicators, appointed by the Lieutenant Governor in Council, on the recommendation of the Minister of Finance.  The Lieutenant Governor in Council, on the recommendation of the Minister of Finance, designates one adjudicator as the Chief Adjudicator.  The Chief Adjudicator is appointed on a full-time basis and shall supervise and direct the operations of the Tribunal. All other adjudicators are part-time appointees and devote as much time as required to perform their duties.

Term

Adjudicators are appointed by the Lieutenant Governor in Council for a fixed term, of up to five years and may be reappointed for an additional term of up to 5 years.  

Meetings

When assigned to adjudicate a proceeding before the OSC's Capital Markets Tribunal, adjudicators devote as much time as required to perform their duties.

Remuneration

Remuneration for adjudicators, including the Chief Adjudicator, is set by the Lieutenant Governor in Council and paid by the OSC.

Appointments & Vacancies