The Ontario Securities Commission’s (OSC) registration, inspections, and examinations division (RIE) has released its 2026–27 examination priorities, which encompass RIE’s intended focus areas for compliance examinations in the year ahead and reflect its risk-based oversight approach.
“RIE’s 2026 examination priorities continue to provide greater transparency to our stakeholders on areas of focus for the upcoming fiscal, as well as promoting proactive compliance from our registrants,” said Matthew Onyeaju, RIE’s senior vice president, in a news release.
According to the relevant OSC staff notice, RIE’s examination priorities include:
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- proportionate and agile oversight
- examinations of regulated entities
- its assessment of compliance with new and existing regulations
- new examination areas
- its response to shifting market dynamics
- swift and decisive regulatory action
- timely guidance, findings, and resources
In the coming year, RIE intends to keep focusing on high-impact and high-risk firms identified through the risk assessment questionnaire.
RIE also plans to perform a thematic sweep on marketing practices with its partners from the Canadian Securities Administrators (CSA), collaborate with the Canadian Investment Regulatory Organization (CIRO), and examine numerous CIRO firms.
“We aim to promote strong compliance practices, enhance awareness of regulatory obligations, and support confidence in Ontario’s capital markets,” Onyeaju said in the news release.
Amid evolving market dynamics, RIE plans to proactively explore and harness artificial intelligence and other technological enhancements to improve examination processes, boost efficiency, and maintain robust regulatory judgment to properly address non‑compliance, as identified in examinations.
Noting that its examination priorities are reflective of its key supervisory functions as well as non-exhaustive, RIE aims to remain ready to respond to new and emerging risks, changing products and services, market events, and investor concerns.
Factors informing priorities
In its news release, RIE noted that it selected its examination priorities based on various external and internal sources, including:
- RIE’s continued regulatory oversight activities
- findings and trends identified via horizon scanning
- capital market developments, including emerging products, services, technologies, and business models
- consultation with fellow OSC divisions
- collaboration with the OSC’s regulatory partners, including the CSA and the CIRO
- ongoing engagement with capital market participants, registrants, and other stakeholders
The OSC’s coordination with its regulatory partners includes its current assessment of the higher prevalence of “ramp-and-dump” stock manipulation schemes and account intrusions in the country.