TORONTO -- Ontario's securities regulator says it will allow small and medium-sized firms to outsource compliance functions as part of more than 100 actions designed to simplify the burden to do business in the province's capital markets.

The Ontario Securities Commission says the changes announced Tuesday will result in enhanced service levels, less duplication and a more tailored regulatory approach.

The 107 initiatives outlined address 34 concerns identified by staff during a consultation process.

In addition to allowing in appropriate cases for businesses to hire a chief compliance officer who also does that work for other firms, other initiatives include support for raising capital in public markets through a confidential prospectus review process prior to announcing an IPO or other financing.

Innovative businesses and startups will receive more flexibility in registration, resales in the secondary market, and other regulatory requirements. Startups seeking financing will see crowdfunding rules harmonized across the country.

Large businesses will see duplicative filing requirements eliminated in investment funds and registration rules. Documents such as prospectuses can be delivered electronically and public companies will be able to conduct at-the-market offerings without obtaining prior exemptive relief.

OSC initiatives will be implemented within a year while other changes that require legislative amendments or other steps will take longer.