Various Branches
May – August 2023
File #22-97
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 (Ontario) and the Commodity Futures Act (Ontario). 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 a 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 2023 to August 2023. Please see below for a more detailed description of these opportunities. Build your work experience through a summer opportunity with Canada’s largest securities regulator.
Application Instructions
Please include the file number and position title in your application. In addition, your application must include the following:
· Cover letter – stating your interest in working for the OSC and branches.
· Resume.
· Copies of your law school and undergraduate transcripts. Graduate transcripts, where applicable.
· Reference letters are also welcome, but not required.
Please attach the above documents in one PDF document, with the naming convention “Last Name, First Name, File #22-97”.
As a part of your 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. Please note, you will be asked to indicate which branch(es) you are applying to.
Please submit your application for this position through the OSC website. Applications must be received by December 9, 2022, at 11:59 pm EST.
*Please note that we are planning for interviews to take place the weeks of February 13-17 and 21-24, 2023.
OSC Summer Law Student Opportunities Panel Discussion
The Ontario Securities Commission (OSC) would like to invite applicants to a live webinar on Monday, November 28, 2022, at 1:00 pm, to learn more about the summer law student experience. You will hear from former summer law students across the Commission regarding the summer law student experience the OSC has to offer, and have the opportunity to ask questions. We hope you can join us. Register here.
Law Summer 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 Registrant Conduct staff in investigative interviews; and
· participating in written or oral administrative proceedings with Registrant Conduct staff.
Role Requirements:
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. Interest in securities law and familiarity with the financial services sector would be assets.
Law Summer 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:
· reviewing public company disclosure, with a focus on reviewing corporate governance disclosure regarding the representation of women on boards and in executive officer positions further to the disclosure requirements set out in National Instrument 58-101 Disclosure of Corporate Governance Practices and related forms;
· analyzing data, providing research and drafting support for policy work;
· reviewing and processing (with supervision) applications for discretionary relief from securities legislation and rules; and
· assisting with the review and assessment of prospectuses and ongoing continuous disclosure filings.
Role Requirements:
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 interest in, securities law, administrative law, and/or corporate/commercial law, would be an asset. Note: of particular interest to our branch are students pursuing a dual JD/MBA degree with above-average Microsoft Office Excel skills.
Law Summer 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, 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, 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.
Role Requirements:
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 OSC.
Law Summer 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. Staff work closely with other securities regulators, self-regulatory organizations and law-enforcement agencies to enhance initiatives to fight misconduct. A strong enforcement presence assists in protecting investors from unfair, improper or fraudulent practices, and in fostering fair and efficient markets.
At least one of the positions will report to the Joint Serious Offences Team (JSOT). In targeting fraudulent and recidivist behaviour that harms retail investors, JSOT is focused on taking more Enforcement cases before the courts where jail terms can be ordered against offenders. The JSOT group is made up of Enforcement staff who have extensive experience in the investigation and prosecution of criminal and quasi-criminal activity.
The Enforcement Branch is currently seeking Summer Law Students for the 2022 Summer Term. The summer students will assist the Litigation Team 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, facta and closing submissions;
· conducting legal research on questions of securities, administrative, criminal, civil, constitutional and procedural law; and
· assisting with examinations and witness interviews.
Role Requirements:
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, who have advocacy experience, and a demonstrated interest in criminal law for the position with JSOT, will be given preference. An excellent academic record and legal writing and research skills are also required.
Law Summer Student, General Counsel’s Office
The General Counsel’s Office (GCO) 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 within the parameters of the Securities Act. GCO provides expert, client-centred, legal, strategic and risk management advice to the Commission.
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, the GCO’s knowledge management initiatives.
Role Requirements:
We are looking for a student who is in their second year of law school, has very strong legal analytical abilities, and enjoys legal research and working on challenging projects. Our ideal student should have excellent verbal and written skills, and the ability to build relationships and credibility with internal clients. Familiarity with, and interest in, securities law, administrative law, corporate/commercial law, litigation, contracts and/or procurement law would be an asset.
Law Summer 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 function in 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 the offerings; reviewing and assessing product disclosure, including prospectus and continuous disclosure filings; and considering applications for discretionary relief from securities legislation and rules.
The student working in the Investment Funds and Structured Products Branch will assist with tasks including:
· providing research and drafting support for policy work;
· reviewing and processing (with supervision) applications for discretionary relief from securities legislation and rules;
· assisting with the review and assessment of product disclosure of investment funds, including prospectuses and ongoing disclosure filing; and
· responding to public inquiries on investment funds issues.
Role Requirements:
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 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 interest in, investment fundamentals and strategies would be an asset.
Law Summer Student, Investor Office
The Investor Office’s key policy initiatives include the implementation of the OSC’s Seniors Strategy, which outlines a toolkit of policy, research, operational and engagement and outreach initiatives intended to address the diverse and evolving needs of older investors. The Investor Office has also published behavioural insights research on crypto assets, gamification in investing, ways to improve disclosure, how to encourage retirement planning and ways to engage millennials in investing.
The student working in the Investor Office will assist with tasks including:
· providing legal research and drafting support in connection with the implementation of the OSC Seniors Strategy and other Investor Office policy initiatives,
· providing legal research and other support with respect to policy and oversight of OBSI;
· supporting the development and drafting of behavioural insights and other research reports;
· supporting the effective administration of advisory and oversight committees;
· Attending, and potentially presenting at, meetings, including meetings of Canadian Securities Administrators committees; and
· developing 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.
Role Requirements:
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 interest in, securities law would be an asset. 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 OSC.
Law Summer 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 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;
· supporting our OSC LaunchPad support program and OSC TestLab as well as engaging with the innovation community; and
· analyzing policy projects within the OSC Rule/Policy Making Framework as well as other duties, as assigned.
Role Requirements:
We are looking for a 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.
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/ >.
Accommodation
If you require an accommodation during the recruitment process, please let us know by contacting our confidential inbox HRRecruitment@osc.gov.on.ca.
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.