A spokesperson for the OSC said the regulator’s approach, including the negotiations, was APPROPRIATE: “As is our normal practice, we had ongoing engagement with Home Capital during the process of our investigation and subsequent issuance of enforcement notices. We have made narrow and focused allegations in respect of disclosure by Home Capital.”

If by appropriate you mean running them out of business. The very public, heavy handed practices have resulted in a run on deposits. These deposits will be replaced by much higher cost money from the pensions plans.  The net result of all of this is that Home Capital will cease to exist.

In addition to enforcement, the role of the OSC should involve restoring CONFIDENCE in the system.   They accomplished the exact OPPOSITE, by creating a stampede. Would have been better to negotiate a little harder to find a solution for ALL parties, including the clients who will be left in the lurch when the doors close.