The Ontario Securities Commission (OSC) published findings from its compliance examination of artificial intelligence (AI) use and governance, showing that most registered firms remain in the early stages of adoption, although some reported more advanced use in specific areas. The notice reinforces expectations that firms apply oversight proportionate to the nature, scale and complexity of each AI use case’s risks and remain accountable for their AI use and outputs.
The initiative included a November 2025 survey of 787 registered firms in Ontario, which achieved an 86% response rate. The examination assessed AI governance, employee training, and risk assessments and controls. It also covered oversight of third party service providers and disclosure to clients, drawing on existing Canadian Securities Administrators guidance on the application of securities laws to AI systems.