Indigenous business group accuses Ontario Securities Commission of ‘redwashing’ – SooToday.com
The Anishnawbe Business Professional Association has formally submitted a major position paper to the OSC, challenging the regulator’s draft Action Plan for Truth and Reconciliation
The Anishnawbe Business Professional Association (ABPA) has formally submitted a major position paper to the Ontario Securities Commission (OSC), challenging the regulator’s draft Action Plan for Truth and Reconciliation (APTR) as a dangerous exercise in “redwashing.”
The ABPA’s submission, titled “From Reconciliation to Regulation,” argues the OSC’s plan fails to protect investors by “almost entirely” avoiding its most powerful tool: its regulatory mandate. The ABPA asserts that this is not “social policy” but a core function of the OSC’s mandate, as corporate failure to engage with Indigenous Peoples and secure Free, Prior, and Informed Consent (FPIC) represents a “foreseeable and material financial risk” to investors.
