Last week, the Ontario Securities Commission (OSC) published its statement of priorities for 2017-2018 after a comment period in which 21 letters were received.

Read: OSC’s priorities provide clues to enforcement

Some commenters said the pace of regulatory change is too fast, while others said it’s too slow. In response, the statement says the OSC “remains committed to policy development that balances the desire to be timely with the need to achieve harmonized outcomes.”

Notwithstanding commenters being divided on a best interest standard and a ban on embedded commissions, the OSC says it will continue to work on introducing a regulatory best interest standard and will develop and present policy options on embedded commissions “later this year.”

Read: The fund companies that support banning embedded fees are…

Feedback was broadly supportive of reducing regulatory burden, working with fintech businesses to foster innovation in capital markets and implementing targeted approaches to address seniors’ issues, reveals the statement.

Other comments of note include the growing financial relevance to investors of environmental, social and governance (ESG) factors and the need for ESG disclosure by companies, as well as the importance of regulatory harmonization.

Read: Sustainable ways to offer responsible investing

An additional priority was added to include the work required to transfer regulatory oversight of syndicated mortgages to the OSC — an initiative announced by the Ontario government after the draft priorities were published.

Read: Protect clients from risky syndicated mortgages

The OSC also reported its performance against last year’s priorities (2016-2017). Highlights include launching the whistleblower program, OSC LaunchPad and a seniors expert advisory committee; publishing the proposals on a best interest standard and embedded commissions ban; analyzing CRM2 and POS initiatives; and participating in the International Organization of Securities Commissions.

Read: OSC whistleblower program less than meets the eye

Read the full statement of priorities and report card.