Definition
The OSC administers and enforces securities law in Ontario through the Securities Act (Ontario) and the Commodity Futures Act. It is a CSA member regulator and oversees registrants whose principal office is in Ontario, which includes most of Canada's largest investment dealers. The OSC has quasi-judicial powers to hold hearings, impose sanctions, and revoke registrations. It reports to the Ontario Ministry of Finance and funds its operations through participant fees and monetary penalties.
Source
Securities Act (Ontario); osc.ca