The Ontario Securities Commission published an update from the Joint Forum of Financial Market Regulators following the forum’s Annual Meeting in Calgary, which brought together Canadian insurance, securities and pension regulators to discuss emerging issues and cross-sector coordination. The plenary session included an update on the Canadian Securities Administrators’ recently issued Staff Notice and Consultation 11-348 on how Canadian securities laws apply to market participants’ use of artificial intelligence systems. The Joint Forum includes members from the Canadian Council of Insurance Regulators, the Canadian Securities Administrators and the Canadian Association of Pension Supervisory Authorities, alongside representation from Canadian Insurance Services Regulatory Organizations and the Mortgage Brokers’ Council of Canada. Members welcomed new senior leaders participating in the forum, including British Columbia Financial Services Authority Chief Executive Officer Tolga Yalkin, Financial Services Regulatory Authority of Ontario Chief Executive Officer Dexter John, Superintendent of Securities for Newfoundland and Labrador Loyola Power, and Nova Scotia Securities Commission Chair and CEO Valerie Seager. The CSA consultation highlighted at the meeting is positioned as guidance on AI-related regulatory expectations and seeks feedback on AI’s evolving role in capital markets and potential changes to oversight and regulation.

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