GREY:HRIVF - Post by User
Post by
missourimineron Aug 25, 2011 1:40pm
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Post# 18979120
Response to OSC complaint
Response to OSC complaint Dear Mr. Brenneman:Thank you for your messages to the Ontario Securities Commission (OSC) concerning High River Gold Mines Ltd. (HRG) and OAO Severstal (Severstal).The role of the OSC is to administer and enforce Ontario securities law. We take our responsibilities seriously. Regardless of where the head office of the issuer is located or in which jurisdiction the company may be incorporated, if it is a reporting issuer in Ontario the company is subject to OSC regulation. In matters relating to disclosure, Canadian securities administrators generally rely on the principal regulator to lead any review or investigation, but the OSC may take action if there appears to be a breach of the regulations we enforce.As a regulatory body, the OSC applies the regulations we enforce impartially. We review concerns for evidence of potential breaches of Ontario securities laws. Investors sometimes have a difficult time differentiating issues that are matters governed in securities law from those that are corporate law issues, not regulated by the OSC. Aggrieved investors seeking remedies in corporate law generally must enforce their rights through civil proceedings. Investors should consult with their own legal counsel for assistance in determining how the law may apply in their particular circumstances.Sincerely,Jeffrey FennellSenior Inquiries OfficerOntario Securities Commissioninquiries@osc.gov.on.ca416-593-83141-877-785-1555