After five years, Howard I. Wetston, Q.C., Chair and CEO of the Ontario Securities Commission (OSC) will reach the end of his term on November 14, 2015.
In a letter to OSC staff and Commissioners, Mr. Wetston said that he was proud of the organization’s many accomplishments during his term. “It has been an honour to serve our investors and our capital markets, and to lead an organization that is highly regarded and supported by such an exemplary group of professionals.”
Mr. Wetston said today that the OSC has made tremendous strides in the last five years for the benefit of Ontarians. “We have intensified our efforts to protect our marketplace, engage with investors and advance our important policy work. I move on with full confidence that the OSC will continue to advance regulation in this province.”
Mr. Wetston was appointed the Chair and CEO of the OSC in 2010. He was the Chair and CEO of the Ontario Energy Board from 2003 to 2010, and was a Vice-Chair of the OSC from 1999 to 2003.
As Chair and CEO of the OSC, Mr. Wetston played a significant role in Canadian and international securities regulatory bodies, as a senior member of the Canadian Securities Administrators and as a Vice Chair of the International Organization of Securities Commissions.
Mr. Wetston holds an LL.B. from Dalhousie University and a B.Sc. from Mount Allison University and has been called to the Bar in Nova Scotia, Ontario and Alberta. He was appointed Queen’s Counsel during his seven years as a prominent regulator working up to the level of Director of Investigations & Research (now Commissioner of Competition) at the federal government’s Bureau of Competition Policy.
Upon completion of Mr. Wetston’s term, OSC Vice-Chair Monica Kowal will become the Acting Chair of the OSC, effective November 15, 2015.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available here.
To see the official release of the news, click here.