The Ontario Securities Commission (OSC) has appointed general counsel Monica Kowal as its new vice chairwoman, replacing Mary Condon, who has returned to academia.

Howard Wetston, chairman and CEO of the OSC, Thursday announced that Kowal has been appointed vice chairwoman at the commission, effective July 23. Kowal has been general counsel at the regulator since 2004, and, before that, she spent 15 years in the private sector, and was a partner at Blake, Cassels & Graydon LLP in the firm’s securities group.

The OSC notes that Kowal played “a critical role” in the development of its recent initiative to encourage greater gender diversity in corporate boardrooms and executive suites. And, it says that she has also been involved with the effort to create a Cooperative Capital Markets Regulator, including completing a secondment at the Canadian Securities Transition Office (CSTO) in 2011.

“The experience Monica gained while serving as general counsel and her expertise in securities law arms her with a unique set of skills that make her the ideal candidate to perform the duties of vice chair,” said Wetston. “Vice chairs fulfill a vital role in carrying out the commission’s regulatory responsibilities and ensuring the advancement of our mandate. We look forward to benefiting from Monica’s legal and securities experience on important regulatory initiatives and adjudication.”

Former vice chairwoman Mary Condon has returned to Osgoode Hall Law School, where she was a professor before joining the commission as a full-time vice chair in 2011. In 2008, she was appointed a part-time commissioner at the OSC, and she will now serve as a part-time commissioner once again.