Province says nominees for OSC chief exec and first-ever chief adjudicator for Capital Markets Tribunal will help promote capital markets
Ontario is taking another step on its path to modernize regulation in the province’s capital markets with two key leadership choices, including the Ontario Securities Commission’s (OSC) first-ever dedicated chief executive officer.
Ontario has selected Grant Vingoe as OSC’s first-ever dedicated CEO. The province has also nominated Timothy Moseley as the first-ever Chief Adjudicator for the new Capital Markets Tribunal (CMT), subject to review by the Standing Committee on Government Agencies.
Both appointments will take effect upon proclamation of the Securities Commission Act, 2021.
“These appointees’ expertise will serve Ontario well by fostering strong, fair and efficient capital markets that drive innovation and competitiveness while continuing to protect investors,” a statement from the province announcing the nominations said.
The new governance structure, whereby the adjudicative and regulatory functions of the OSC are separated, was among the recommendations put forward by the Capital Markets Modernization Taskforce.
Having those two functions separated aligns with best practices in corporate governance, the statement said, while strengthening the OSC’s “role as an innovative and globally competitive markets regulator.”
