PMAC supports the OSC’s efforts to modernize access to the regulatory framework and recognizes the potential for this initiative to meaningfully improve how firms and investors access and use regulatory information.
In our view, the greatest impact of this work will be achieved by focusing not only on regulatory instruments, but also on high-value regulatory data and broader applications of structured information. In particular, enhancing the accessibility and usability of registration and insider information through machine-readable formats would provide immediate and tangible benefits to investors and other stakeholders.
Looking ahead, PMAC believes there would be value in further exploring, in consultation with industry and other stakeholders, broader applications of structured, machine-readable data across the regulatory ecosystem, including in the context of issuer disclosure. Any future initiatives should be proportionate, practical and carefully designed to avoid unintended or prohibitive implementation burdens.
Given the technical and evolving nature of this area, continued engagement with industry and other stakeholders will be important to ensuring that these initiatives are both effective and practical.
Read the letter here.