Ontario Securites Commision - Investor offices
Investor News
November 9, 2020
Protecting Aging Investors through Behavioural Insights

The Ontario Securities Commission (OSC) today published a new behavioural insights study that identifies behaviourally-informed techniques dealers and advisers can use to encourage their older clients to provide the necessary information for enhanced investor protection measures.

Protecting Aging Investors through Behavioural Insights (OSC Staff Notice 11-790) identifies ways in which our decisions become more biased as we get older and presents the results from an experiment that tested ways to reduce the effect of these biases. Read the full study

New Research

A key component of the OSC’s Seniors Strategy is addressing issues of financial exploitation and diminished mental capacity in aging investors.

A Trusted Contact Person can assist registrants in protecting a client’s financial interests in circumstances of financial exploitation or declining mental capacity. We used behavioural insights to design a form to collect Trusted Contact Person information from older clients. In an experiment, this form increased the likelihood that an older investor will provide the necessary information by 23%. Learn more

New Research

Some of the key behavioural biases that can affect investors willingness to appoint a Trusted Contact Person are:

Optimism bias: This can lead investors to underweight the risks associated with cognitive decline and financial exploitation.

Avoidance of negative emotions: Investors may not consider the importance of appointing a Trusted Contact Person because it requires them to imagine bad things happening to them.

Illusory superiority: Some investors think that other people may need Trusted Contact Person but not themselves.

Read the full research findings and summary.

Making a Budget

Making a Budget

This Financial Literacy Month take a moment to make a personal budget to keep track of your spending, prepare for unexpected expenses and find ways to save money. It may feel overwhelming or complex at first, but budgeting can help you regain control of your finances. Remember to use reasonable estimates and refine your budget each month to reflect changing circumstances. Learn more


Financial Literacy Month has added importance this year as Canadians navigate the financial impact of the pandemic. Financial literacy and investor education are essential to managing and understanding your financial health. They can give you the confidence and knowledge to make informed financial decisions.

Visit for hundreds of free articles, tools and calculators to help you with your finances.

Planning for Retirement

Planning for Retirement

Canadians are living longer and leading more active lives than ever as seniors. You may be asking yourself when you can retire, how much money you will need, or what types of investment products are available. Visit our Planning for Retirement hub to get the resources you need to plan ahead. Learn more


Socially Responsible Investing

Socially responsible investing, or SRI, is an investment strategy that aims to provide financial return while encouraging positive social change. It considers both the financial return and the social good that a company generates. Learn more


The OSC is accepting applications for membership on its independent Investor Advisory Panel (IAP), which provides an investor perspective on policy, rule-making and other regulatory initiatives.

The IAP advises and comments on proposed rules, policies and investor protection initiatives, while considering the views of a broad range of investors through consultation with investors and organizations representing investors. Applications are due December 7, 2020. Learn more

Personal Information Inventory

Personal Information Inventory

Download the Personal Information Inventory document here

This document can help someone you trust locate your personal and financial accounts and other records, in the event that you are unable to provide guidance.


The Canadian Investor Protection Fund (CIPF) released their first podcast, Lessons Learned from Past Crises, on how investor compensation funds can navigate through the current global crisis caused by the COVID-19 pandemic. Listen now

CIPF provides limited protection for property held by a CIPF member firm on behalf of an eligible client, if the firm becomes insolvent. CIPF's mandate was established by Canada's provincial and territorial securities regulators, including the OSC.

Tim Moseley

The OSC recently announced that the term of Tim Moseley, Vice-Chair of the OSC, has been extended by two years to November 29, 2022 by the Ontario Ministry of Finance.

The Commission consists of nine to 16 Commissioners, including a full-time Chair and two full-time Vice-Chairs. The Commission performs three distinct functions in support of its mandate – making policies and rules, serving as the board of directors, and adjudicating. Learn more




Proposed amendments to National Instrument 94-101 and proposed changes to Companion Policy 94-101

Comments due: December 2, 2020

The CSA published proposed amendments for a second comment period relating to National Instrument 94-101 Mandatory Central Counterparty Clearing of and Companion Policy 94-101 Mandatory Central Counterparty Clearing of Derivatives. Learn more


Proposed changes to the offering memorandum prospectus exemption

Comments due: December 16, 2020

The CSA published for comment proposed changes to the offering memorandum prospectus exemption. The changes are reflected in proposed amendments to National Instrument 45-106 Prospectus Exemptions (NI 45-106), as well as proposed changes to Companion Policy 45-106CP Prospectus Exemptions. Learn more




Always know the 10 most recent OSC investor warnings and alerts by bookmarking this Fact Card or embedding it on your website or blog.



FXBITMARKET Limited, offering investment services on its website found at www[dot]fxbitmarket[dot]com, is not registered in Ontario to engage in the business of trading in securities. Learn more



tradebits3[dot]com, found at www[dot]tradebits3[dot]com, is not registered in Ontario to engage in the business of trading in securities. Learn more


COVID-19 Fraud Alerts

Watch our COVID-19 fraud alert video series. Fraudsters are exploiting the fear surrounding economic conditions and the COVID-19 pandemic.

Fake government messages. Be careful of fraudsters posing as government agencies or departments by text or email.

Financial representative impostors. Be on alert for fraudsters posing as your bank or investment firm advisor.

Quick High-Return Schemes. Fraudsters are targeting people experiencing financial hardship from COVID-19 with quick high-return schemes based outside of Canada.

Pump-and-dump scams. This is a type of investment fraud where fraudsters artificially increase the price of a stock that they own by encouraging other investors to buy it. 

Work from home scams. Be on alert for fraudsters offering fake job opportunities.


IOSCO Investor Alerts

Stay informed about the latest international investor warnings and alerts by visiting the International Organization of Securities Commissions (IOSCO) Investor Alerts Portal.




OSC in the Community

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.

To protect the health and safety of the public and staff, all OSC in the Community events will be delivered online or by phone until further notice. We will continue to monitor the situation and follow guidance from public health authorities.

  • November 10, 2020 - Webinar
  • November 12, 2020 - Webinar
  • November 13, 2020 - Webinar
  • November 18, 2020 - Webinar
  • November 26, 2020 - Webinar

Learn more


November 18 Twitter Chat

The OSC will host a Twitter Chat to share tips on managing personal finances during the pandemic. Follow the OSC’s investor education Twitter handle, @smarter_money, for the latest information. We'll be using the hashtags #FinLitChat and #FLM2020.


November 19 Telephone Townhall

We're hosting a Financial Literacy Month telephone townhall on November 19, 2020 at 6:30 p.m. about investing basics and avoiding fraud. Register now

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Ask yourself these 5 questions when creating an emergency fund. 

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