2024 7 11 The OSC is seeking comments on the Proposed Rule and the Proposed Companion Policy that establishes a process to distribute money received by the Commission under disgorgement orders to harmed investors. This process is intended to be streamlined, transparent, and efficient, and is designed to support better and timelier investor redress. Comments are due October 9, 2024
• The proposed rules establish eligibility requirements, distribution processes, and use of funds to pay administrative costs.
• The rules aim to create a more streamlined, transparent and efficient process for returning funds to harmed investors.
• Most distributions are expected to be conducted by court-appointed administrators, with the OSC directly handling simpler cases.
• The rules require publishing information about disgorgement amounts received and notices about claims processes.
Proposed OSC Rule 11-502 Distribution of Amounts Paid to the OSC under Disgorgement Orders