Ontario Securities Commission - Board of Directors

Ministry

Finance

URL

www.osc.gov.on.ca

Address

20 QUEEN STREET WEST, 20th FLOOR
TORONTO
M5H3S8

Phone

416-593-8314

Background

Securities Commission Act, 2021, S.O. 2021, c.8, Sched 9 (opens a new window)

Function

The Ontario Securities Commission (OSC) is a provincial agency that is responsible for regulating the capital markets in Ontario.  The OSC administers and enforces the Securities Act (Ontario) and the Commodity Futures Act (Ontario) and certain provisions of the Business Corporations Act (Ontario).  The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices; to foster fair, efficient and competitive capital markets and confidence in capital markets; to foster capital formation; and to contribute to the stability of the financial system and the reduction of systemic risk.

Membership

The OSC's board of directors are appointed by the Lieutenant Governor in Council, on the recommendation of the Minister of Finance. The board of directors is composed of at least three and not more than eleven board members.  The Lieutenant Governor in Council, on the recommendation of the Minister of Finance, designates one director as the chair.  All directors, including the chair, are part-time appointees and devote as much time as required to perform their duties.

Term

Directors are appointed by the Lieutenant Governor in Council for an initial term of up to two years, and may be eligible for reappointment for a second term of up to three years and a third term of up to five years.

Meetings

Regulatory meetings are typically held on a bi-weekly basis. Governance meetings are held at least quarterly.

Remuneration

Remuneration for directors, including the chair, is set by the Lieutenant Governor in Council and paid by the OSC.

Appointments & Vacancies