The head of the Ontario Securities Commission’s (OSC) innovative fintech unit, known as OSC LaunchPad, is now leading the regulator’s new branch devoted to growth and innovation.
The OSC announced that Pat Chaukos, who previously headed the OSC’s unit that focused on nurturing fintech, has been named director of its new Office of Economic Growth and Innovation.
The provincial government called for the creation of the new division as part of its capital markets plan that was set out in the 2019 budget. The OSC detailed its commitment to launch the new office in its report on reducing regulatory burdens, released in November of last year.
“As director of this newly created office, Pat will support innovation in the capital markets, as well as ensure the OSC receives balanced insights from stakeholders in the innovation space and capital raising areas,” the OSC said in announcing the appointment.
LaunchPad will become part of the new division.