Ontario Securities Commission
The Ontario Securities Commission (OSC) is the statutory body responsible for regulating Ontario’s capital markets in accordance with the mandate established in the provincial Securities Act and the Commodity Futures Act. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. This mandate is performed through policy, operational, adjudication and enforcement work. The OSC also contributes to national and global securities regulation development.
We offer an inclusive, diverse, fair, and flexible work environment and take pride in our challenging and rewarding work.
The OSC is currently recruiting for Summer Law Students to work in a variety of its branches from May to August 2024. Build your work experience through a summer opportunity with Canada’s largest securities regulator.
To apply, please visit our website
Your application must include the following:
· Cover letter – stating your interest in working for the OSC
· Copies of your law school and undergraduate transcripts, as well as graduate transcripts, where applicable
· Reference letters are welcome, but not required
Please attach the above documents in one PDF, with the naming convention “Last Name, First Name”.
· As a part of your online application submission, you will be required to complete questions to provide additional information for the hiring branches’ consideration. Please read the questions carefully and be as concise and accurate as possible in your answers.
· You will be required to select which branch(es) you are applying to as part of your online application. If you are applying to more than one branch, you will only need to provide one PDF application package.
· Please submit your application for this position through the OSC website. Applications must be received by December 29, 2023, at 11:59 pm EST.
· Please note that we are planning for interviews to take place the week of February 20-23, 2024.
Summer Law Student, Compliance and Registrant Regulation Branch
The Compliance and Registrant Regulation (CRR) Branch oversees the dealers, advisers and investment fund managers that the public relies upon when investing in securities. Using a risk-based approach, CRR focuses on initial and ongoing registration and compliance reviews of registrants. CRR also develops significant policy/legislative initiatives affecting registered firms and individuals, at both the Ontario and national levels. The branch consists of integrated, multi-disciplinary teams, including professional staff (chartered accountants and lawyers), registration officers (corporate and individual), and support staff.
The student working in the Compliance and Registrant Regulation Branch will work with the Registrant Conduct Team and assist with tasks, including:
· in-depth reviews of registrant conduct or other registration-related matters;
· preparing document briefs and examination outlines for witness and registrant interviews;
· participating with all Registrant Conduct staff in investigative interviews; and
· participating in written or oral administrative proceedings with Registrant Conduct staff.
We are looking for a student who is in their second year of law school, and has strong legal analytical abilities and an interest in pursuing a career in litigation or administrative law. Our ideal student should have excellent attention to detail and organizational skills, excellent communication skills, and a keen enthusiasm to contribute to promoting investor protection and tackling registrant misconduct. An interest in securities law and familiarity with the financial services sector would be assets.
Summer Law Student, Corporate Finance Branch
The Corporate Finance Branch is responsible for the regulation of reporting issuers (other than investment funds) and for leading issuer-related policy initiatives within the OSC and the Canadian Securities Administrators. Our role is to create and uphold a robust regime of issuer regulation that protects investors by providing them with information they need to make informed investment decisions and setting standards of appropriate disclosure and behaviours by issuers and their directors, officers and insiders.
The students working in the Corporate Finance Branch will assist with tasks, including:
1. reviewing public company disclosure and other information related to environmental, social and governance (ESG) matters. This may include reviews of corporate governance disclosure related to the representation of women on boards and in executive officer positions, or other work regarding the consideration of diversity amongst other historically under-represented groups and disclosure of climate-related matters;
2. analyzing data and providing research and drafting support for policy work, including policy work relating to ESG and sustainable finance;
3. reviewing and processing (with supervision) applications for discretionary relief from securities legislation and rules; and
4. the review and assessment of prospectuses and ongoing continuous disclosure filings.
We are looking for students who are in their second year of law school, have very strong legal analytical abilities, and enjoy legal research and working on challenging projects. Our ideal students should have excellent verbal and written communication skills, as well as strong analytical and time management skills. Familiarity with, and an interest in, securities law, administrative law, and/or corporate/commercial law, would be assets. Note: of particular interest to our branch are students pursuing a dual JD/MBA degree with above-average Microsoft Office Excel skills.
Summer Law Student, Derivatives Branch
The Derivatives Branch is responsible for creating and implementing derivatives regulation in Ontario. The branch works with the Canadian Securities Administrators OTC Derivatives Committee and federal regulators to create harmonized rules and policy for the Canadian market. The branch is currently involved in a number of initiatives, including drafting business conduct and registration rules, and amendments to the derivatives trade reporting rule, as well as implementing segregation and portability of cleared OTC derivatives rules, and mandatory central counterparty clearing of derivatives rules. The branch is also responsible for providing derivatives support to other branches at the OSC, including the market regulation, registration, and enforcement branches, as well as the General Counsel’s Office.
The Derivatives Branch actively contributes to several international working groups, including the IOSCO Committee 7 on Derivatives and various FSB Working Groups.
The student working in the Derivatives Branch will assist with tasks, including:
· conducting legal research and drafting support for rule-making and rule amendments;
· participating in the analysis of exemptive relief requests;
· participating in national and international policy working groups; and
· responding to cross-branch and external inquiries on derivatives issues.
We are looking for a student who is in their second year of law school, has very strong legal analytical abilities, and enjoys working on challenging projects. Our ideal student should have an excellent work ethic and communication skills, and a keen enthusiasm to contribute toward the goals and objectives of the Derivatives Branch and the OSC.
Summer Law Student, Enforcement Branch
The Enforcement Branch supports the OSC in delivering fair, vigorous and timely enforcement. The Enforcement Branch investigates and litigates breaches of securities laws in Ontario. The Enforcement Branch also works closely with other securities regulators, self-regulatory organizations and law-enforcement agencies to enhance initiatives to fight misconduct. The Enforcement Branch initiates administrative proceedings before the Capital Markets Tribunal and lays charges in the Ontario Court of Justice. A strong enforcement presence assists in protecting investors from unfair, improper or fraudulent practices and in fostering fair and efficient markets.
The Enforcement Branch is currently seeking Summer Law Students for the 2024 Summer Term. The summer students will assist with tasks, including:
· prosecutions and other proceedings under the Securities Act before the Capital Markets Tribunal, the Ontario Court of Justice and the Ontario Superior Court of Justice, as well as appeals from these proceedings;
· drafting proceeding documents, including notices of hearing, statements of allegations, motion materials, factums and closing submissions;
· conducting legal research on questions of securities, administrative, criminal, civil, constitutional and procedural law; and
· examinations and witness interviews.
We are looking for students who are in their second year of law school, with a demonstrated interest in litigation. Applicants who have completed courses in securities, administrative and evidence law, and criminal procedure and who have advocacy experience, will be given preference. An excellent academic record and legal writing and research skills are also required.
Summer Law Student, General Counsel’s Office
The General Counsel’s Office is an in-house legal, policy and risk management resource that supports the Commission in fulfilling its mandate and achieving its objectives in an accountable, fair and transparent manner. GCO provides expert, client-centred, legal, strategic and risk management advice to all of the Commission’s other branches. GCO provides legal advice in a wide range of areas, including statutory interpretation, administrative law, securities regulation, corporate/commercial law, information technology/intellectual property law, civil and transactional litigation, procurement law and privacy law. In addition, GCO oversees the collection of unpaid monetary sanctions and provides advice on freedom of information access requests, governance matters, investor issues and conflict-of-interest management. GCO also has a particular focus on legislative reform.
The student working in the General Counsel’s Office will assist with tasks, including:
· conducting legal research and analysis relating to securities law, administrative and public law, and other topics;
· conducting comparative regulatory policy research;
· responding to freedom of information requests; and
· participating in, and supporting, GCO’s projects and knowledge management initiatives.
We are looking for a student who is in their second year of law school, has strong legal analytical abilities, and enjoys legal research and working on challenging projects. Our ideal student has excellent verbal and written skills, and the ability to build relationships and credibility with our internal clients (i.e., other professionals at the Commission). Familiarity with, and an interest in, securities law, administrative law, corporate/commercial law, statutory interpretation, contracts and/or procurement law would be assets.
Summer Law Student, Investment Funds & Structured Products Branch
The Investment Funds & Structured Products Branch oversees the regulation of investment funds that offer securities to the public in Ontario. Our role in the OSC’s mandate of providing protection to retail investors is a vital one. We have a leadership role in developing new rules and policies within the OSC and within the Canadian Securities Administrators (CSA) to adapt to the changing environment in the investment fund industry. Our scope includes reviewing investment products (mutual funds, exchange-traded funds, structured products, scholarship plans and labour sponsored funds); considering investor protection issues related to investment products; reviewing and assessing product disclosure, including prospectus and continuous disclosure filings; and considering applications for discretionary exemptive relief from securities legislation and rules.
The Summer Law Student will assist with tasks, including:
· providing research and drafting support for policy work;
· under supervision, reviewing and processing applications for discretionary exemptive relief from securities legislation and rules;
· assisting with the review and assessment of product disclosure of investment funds, including prospectuses and continuous disclosure filings; and
· responding to public inquiries on investment funds issues.
We are looking for a student who is in their second year of law school, has very strong legal analytical abilities, and enjoys working as a member of a team on challenging projects. Our ideal student should have excellent verbal and written skills, as well as strong time management skills. Familiarity with securities laws, investment funds, investment products or derivatives would be an asset. An understanding of, and an interest in, investment fundamentals and strategies would also be assets.
Summer Law Student, Investor Office
The OSC created a dedicated Investor Office with an aim to achieve better investor outcomes. The Office sets the strategic direction and leads the OSC’s efforts in investor engagement, education, outreach and research. The Investor Office also brings investor perspectives to the organization and leads important policy development. To support this work, the Investor Office uses research and behavioural science to test policy proposals and explore how emerging capital market trends are affecting retail investors. The Investor Office also plays a lead role in overseeing, and policy development relating to, the Ombudsman for Banking Services and Investments’ (OBSI) role as the independent dispute resolution service for the investment industry.
The student working in the Investor Office will assist with tasks, including:
· providing legal research and drafting support in connection with the Investor Office policy initiatives;
· providing legal research and other support with respect to policy and oversight of OBSI;
· supporting the effective administration of advisory and oversight committees;
· supporting the development and drafting of behavioural insights and other research reports;
· attending, and potentially presenting at, meetings, including meetings of Canadian Securities Administrators committees; and
· reviewing new content for the OSC’s investor education website, GetSmarterAboutMoney.ca, as well as other investor engagement and outreach channels, including educational resources such as GetSmarterAboutCrypto.ca.
We are looking for a student who is in their second year of law school, has strong legal analytical abilities, and enjoys legal research and working on challenging interdisciplinary projects. Familiarity with, and an interest in, securities law would be assets. Experience writing outside of a legal context, and in conducting research in non-legal fields, is also an asset, but not required.
Our ideal student should have an excellent work ethic, excellent communication and written skills, and a keen enthusiasm to contribute to the goals and objectives of the Investor Office and the OSC.
Summer Law Student, Office of Economic Growth and Innovation
The Office of Economic Growth and Innovation (Innovation Office) is dedicated to accelerating innovation, bolstering capital formation, and reducing regulatory burden in Ontario’s capital markets. We help innovative businesses understand securities laws and strive to make the OSC a more innovative and efficient regulator. Please refer to the Innovation Office’s dedicated social media channels and website < https://www.oscinnovation.ca/about> for detailed information about Our Vision, Who We Are and What We Do.
The student working in the Innovation Office will assist with tasks, including:
· conducting research (e.g. comparative research into leading practices or new developments in other jurisdictions) and preparing related materials, such as presentations, reports, and memos; and
· supporting our OSC LaunchPad support program and OSC TestLab as well as engaging with the innovation community.
We are looking for a second-year law student with strong communication and analytical skills and an interest in new technology, start-ups, and the intersection between technology and law/regulations. Deeper understanding of the financial services sector and knowledge of capital markets and/or securities law would be considered assets.
You should have an excellent work ethic and organizational skills to meet deadlines. You are motivated and able to work in a dynamic team environment, as well as independently, with a keen enthusiasm to contribute to the goals and objectives of the Innovation Office and the OSC.
Summer Law Student, Regulatory Strategy and Research Branch
The Regulatory Strategy and Research Branch is responsible for the delivery of economic, regulatory, and financial research and analysis that support the development of OSC regulatory strategy and policy recommendations. The branch advises on, and informs, the OSC’s strategy, priorities, regulatory operations decisions and discussions with other regulatory bodies and agencies concerned with financial stability. The branch also supports both investors and market participants through the Inquiries and Contact Centre.
The student working in the branch’s Inquiries and Contact Centre will assist with tasks, including, but not limited to:
· providing legal research skills for the review, maintenance, and development of legal reference documents as they pertain to Ontario securities law, for use by the Inquiries and Contact Centre;
· providing legal analysis support to the Inquiries and Contact Centre team in the response to, and resolution of, inquiries and complaints.
· supporting management in reporting quarterly and monthly results shared with other departments within the Commission; and
· assisting the Inquiries and Contact Centre with selected written replies to market participants (issuers, dealers and insiders) and investors (including victims of fraud) that require focused legal analysis.
We are looking for a student who is in their second year of law school, has strong legal analytical abilities, and enjoys legal research and working on challenging interdisciplinary projects. Familiarity with, and an interest in, securities law would be assets.
Our ideal student should have an excellent work ethic, strong communication and written skills and a keen enthusiasm to contribute to the goals and objectives of the Inquiries and Contact Centre and the OSC.
Note: The Summer Law Student role is eligible for hybrid work and, as per the OSC’s hybrid policy, requires a minimum of 3 days/week working from the office at 20 Queen Street West in Toronto.
We thank all applicants for their interest in the Ontario Securities Commission. We will contact those selected for an interview.
Inclusion and Diversity at the OSC
The OSC is committed to diversity and providing an inclusive workplace. It is our priority to ensure employment opportunities are visible and barrier-free to all under-represented groups, including, but not limited to, Indigenous, Black and racialized groups, people with disabilities, women and people from the LGBTQ2S community, to achieve an employee demographic profile reflective of the demographic profile of Ontarians.
The OSC is a proud partner with the following organizations: BlackNorth Initiative < https://blacknorth.ca/ >, Canadian Centre for Diversity and Inclusion < https://ccdi.ca/ >, and Pride at Work Canada < https://prideatwork.ca/ >.
If you require an accommodation during the recruitment process, please let us know by contacting our confidential inbox [email protected].
Visit Accessibility at the OSC < https://www.osc.ca/en/accessibility-osc >to review the OSC’s policies on accessibility and accommodation in the workplace.