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Investor News
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June 6, 2023
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Planning your retirement income
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How will you cover your costs when you retire? Advance planning can help. Find out more about how to plan your income sources in retirement.
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Stepping up for Seniors Month
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Throughout June, the OSC is holding events and sharing resources to help seniors and their families avoid fraud and financial abuse, including:
- Grandparent scam video – The whole family can watch our new video to learn more about grandparent scams. Knowing what these scams can look like can help you and your loved ones avoid them.
- Telephone Townhall – Thursday, June 8 at 7 p.m. join us for a one-hour call-in show with special guests from the Toronto Police Service. Register today.
- World Elder Abuse Awareness Day Twitter chat – Thursday, June 15 at 11 a.m. Follow our Twitter chat using #WEAAD2023 and #FraudChat.
- Investor News – This is the first of two Seniors Month publications.
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Risky promises: money back not guaranteed
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Losing money never feels good, whether you’re seeing a change in your investments, or worse you’ve had money taken by a scammer. Someone offering to help you recover your lost funds — for a fee — may seem like the perfect answer to your problems.
However, before you send money, there are some things you should know. If you’ve been a victim of fraud, you may be a target of a recovery room scam. That’s when a scammer promises to recover your lost funds — if you send them more of your money.
Some companies may also try to charge you a fee to file a complaint on your behalf. But it is always free to make a complaint about your investments. Learn more about how to make a complaint. |
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Apply to join the Seniors Expert Advisory Committee
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Identifying and addressing the needs of older investors is a priority for the OSC. An important way for us to gain input is through our Seniors Expert Advisory Committee and we are now accepting applications for new members. The committee serves as a forum to discuss issues and challenges faced by seniors. Its members typically include representatives from the legal community, academia, industry, medical professionals, and seniors’ advocates among others. Applications are being accepted until Tuesday, July 4.
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Investor Advisory Panel news
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The OSC is also inviting applications for membership on its independent Investor Advisory Panel (IAP). It provides an investor perspective on policy, rule-making and other regulatory initiatives. Resumes can be submitted by Thursday, June 15.
The IAP released its 2022 Annual Report summarizing its activities, submissions, consultations and meetings in 2022. |
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Protecting your accounts
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Consider telling your financial advisor the name of a Trusted Contact Person — someone your financial advisor could call if you’re not acting like yourself or if they’re worried you are being financially exploited. Learn more about what a Trusted Contact Person is and how appointing one can help you. |
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Ready to retire?
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Take our quiz to find out if you’re ready for the next chapter.
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What’s your net worth?
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Use our tool to see the difference between what you own and what you owe.
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Regulatory Updates & Initiatives
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Here are some recent developments and publications:
- The first OSC TestLab report highlighted perspectives on RegTech in Ontario’s capital markets.
- Members of the CSA announced exemptions from certain filing requirements to address the brief period when the System for Electronic Document Analysis and Retrieval (SEDAR) will be switched to a new centralized system, SEDAR+.
- Canadian securities regulators will defer launch of new SEDAR+ filing system to July 25, 2023, with a contingency date in September.
- The CSA is launching a review of the use of chargebacks in the mutual fund industry due to concerns about conflicts of interest that may arise from this practice.
- The International Organization of Securities Commissions (IOSCO) issued for consultation recommendations to jurisdictions across the globe as to how to regulate crypto assets.
- IOSCO encouraged regulators, responsible entities, and trading venues to review and adopt good practices for ETFs.
- IOSCO published a report to help its members enhance special purpose acquisition companies (SPAC) regulations.
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Professional help
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Consulting an expert on big decisions can be less stressful than trying to do it all on your own. When it comes to your money, getting advice from a financial advisor can help you map your goals and create a strategy to achieve them.
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GIAs explained
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A guaranteed interest annuity (GIA) works similarly to a guaranteed investment certificate (GIC). It is a life insurance contract that provides a buyer with a fixed rate on their deposit for a set period of time.
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Warnings & Alerts
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Always know the 10 most recent OSC investor warnings and alerts by bookmarking this Fact Card or embedding it on your website or blog. |
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Upcoming events
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OSC in the Community
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OSC in the Community is an outreach program that takes the OSC's regulatory mandate from Bay Street to Main Street. OSC staff travel to communities across Ontario to talk to people about making informed financial decisions and avoiding investment fraud.
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Request an OSC in the Community presentation for your club or organization here. |
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June 7, 2023 Webinar, Perth, Probus Club of Perth
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June 21 2023 Presentation, Hamilton, Local 18 Retirees Club
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June 22, 2023 Webinar, Ottawa, YMCA Ottawa BuildON
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Telephone Townhall
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Thursday, June 8 at 7:00 p.m. - Join our seniors-focused telephone townhall on protecting Ontarians from investment fraud and financial abuse. OSC staff provide information, answer questions and conduct live polls over the course of one hour. Click here to register. |
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Consultations
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Comments Due: June 19, 2023
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New SRO is publishing for public comment proposed amendments to New SRO’s Universal Market Integrity Rules and Investment Dealer and Partially Consolidated Rules — collectively, the Proposed Amendments. This is regarding the investment industry’s move from a trade date plus two business days settlement cycle to a trade date plus one business day settlement cycle.
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Comments Due: July 12, 2023
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The CSA is seeking public comment on proposed amendments to corporate governance disclosure rules and policy relating to the director nomination process, board renewal and diversity.
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OSCAR’s tip:
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Here are 3 tax credits seniors should know about. |
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Follow Us
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20 Queen Street West | 22nd Floor | Toronto ON M5H 3S8
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© Ontario Securities Commission 2023
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