Chair and CEO of Ontario Securities Commission Nominated
McGuinty Government Nominates Legal Expert Howard Wetston, Q.C.
Ontario has nominated Howard Wetston, Q.C. for appointment as the Chair and Chief Executive Officer (CEO) of the Ontario Securities Commission (OSC), subject to review by the Standing Committee on Government Agencies.
Mr. Wetston has been Chair of the Board and CEO of the Ontario Energy Board (OEB) since 2003. Prior to his appointment at the OEB, Wetston served four years as Vice-Chair of the OSC. Before that, he was a Judge of the Federal Court of Canada, Trial Division. He is a member of the board of directors of Mount Sinai Hospital in Toronto, was appointed Queen's Counsel in 1990 and is a member of the Ontario and Alberta Bars.
As Chair and CEO, Mr. Wetston would oversee the OSC's board of directors, ensure proper administration and enforcement of the Securities Act, and work with the Canadian Securities Transition Office as it seeks to establish a Canadian securities regulator.
- The current OSC Chair and CEO David Wilson's term expires on October 31, 2010.
- The OSC is the largest securities regulator in Canada, with approximately 475 full-time staff.
- The OSC oversees the Toronto Stock Exchange, which is the third-largest stock exchange in North America and the ninth-largest equity market in the world, based on domestic market capitalization.
“Mr. Wetston's knowledge and experience in legal, securities, business and economic regulation will serve Ontarians well as we work with the federal government and our provincial partners to create a Canadian securities regulator, which provides best-in-class oversight and investor protection. At the same time, I want to thank Mr. Wilson for his five years of leadership and guidance.”