Ontario nominates OSC directors, adjudicators

As part of the restructuring of the Ontario Securities Commission (OSC), the provincial government proposed a new slate of directors to oversee the commission and a separate roster of adjudicators to sit on its new capital markets tribunal.

Most of the OSC’s existing commissioners have been nominated to the board and a handful to the tribunal. Two of the OSC’s existing commissioners, including current lead director Lorie Haber, are not on either list.

All of the nominations are subject to review by the standing committee on government agencies.

The 10 tribunal nominees include current commissioners (Mary) Cecilia Williams and Cathy Singer, along with OSC vice-chair, Tim Moseley.

The other nominees to the tribunal are Dale Ponder, Russell Juriansz, William Furlong, James Douglas, Geoffrey Creighton, Andrea Burke and Sandra Blake.

The OSC’s new nine-member board would be chaired by former commissioner Heather Zordel and be comprised of most of the existing commissioners, including Cindy Tripp, Hari Panday, David Lewis, Frances Kordyback, Dieter Jentsch, Jennifer Fang, Mary Anne De Monte-Whelan and Kevan Cowan.

In a release, the government called the nominations “another step forward in delivering its commitment to modernize Ontario’s capital markets regulator.”

The legislation that officially restructures the commission has yet to be proclaimed.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.