Ontario Securities Commission finds most registered firms early in AI adoption

Nov 12, 2026
Staff Notice 33-763 reports the findings of an AI compliance examination. Firms stay accountable for AI outputs; the notice adds no new rules.

The Ontario Securities Commission has published the results of a compliance examination of how registered firms use AI, in Staff Notice 33-763. The review covered governance of AI systems, staff training, risk assessments and controls, oversight of outside service providers and what firms tell clients.

The OSC found that most registered firms are still early in adopting AI, though some reported more advanced use in specific areas. It expects firms to oversee each AI use case in proportion to its risks, and says firms remain accountable for their use of AI and for what it produces.

The notice does not create new rules or change existing ones. It sets out how current securities law applies. "Effective governance and thoughtful oversight are essential to realizing its benefits responsibly and in the public interest," said Matthew Onyeaju, senior vice president of the OSC's registration, inspections and examinations division.

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