The Ontario Securities Commission today released its first Statement of Governance Practices, along with its 2007 Annual Report and 2007/2008 Statement of Priorities.

The OSC says the Statement of Governance Practices represents a major step toward greater transparency and accountability by the regulator. It was developed after a comprehensive review by the OSC in 2006 of its existing governance practices. Following the review, the OSC determined it would enhance the transparency of its own governance practices and procedures by publishing an annual statement of governance practices along with its Annual Report.

“We are aware that our governance practices and procedures must adhere to the highest principles,” says OSC Chairman David Wilson. “We have determined that we should adopt the best governance practices currently advocated in our policies and rules for reporting issuers, wherever practicable and appropriate for a public regulatory body governed by statute.”

Copies of the Statement of Governance Practices, 2007 Annual Report and 2007/2008 Statement of Priorities are available on the OSC Web site at
www.osc.gov.on.ca.