The Ontario Securities Commission has named the members of its new Capital Markets Advisory Committee (CMAC), a one-year pilot it announced in April.
The committee is meant to provide the OSC with strategic insights on broad trends and developments in the capital markets from leaders across the industry, and to help the regulator advance its 2024-30 strategic plan.
Its first meeting will take place this month.
The members are senior leaders from across the industry, including issuers, exchanges, private market participants, institutional investors, investment dealers, portfolio managers and fund managers, as well as fintechs and academics.
They include co-chairs Susan Greenglass, who was recently appointed executive vice-president, regulatory operations at the OSC, and Naizam Kanji, who recently took on the role of executive vice-president, strategic regulation.
The other 11 members are:
- Joseph Bastien, associate director, inclusive economy, Shareholder Association for Research and Education
- Chad Bayne, partner, emerging and high growth companies, Osler
- Carlos Cardone, managing director, Investor Economics – ISS STOXX
- David Cusson, CEO, Ventum Financial Corp.
- Clare Devlin, managing director, active ownership, CPP Investments
- Rhonda Goldberg, executive vice-president and general counsel, IGM Financial Inc.
- Margaret Gunawan, managing director, general counsel, Americas (ex-US), BlackRock Canada
- Arne Gulstene, head of issuer services, Computershare Canada
- Mohit Talwar, partner, Maverix Private Equity
- Rajeeve Thakur, vice-president, regulatory affairs and enterprise compliance, TMX Group Ltd.
- Katie Walmsley, president, Portfolio Management Association of Canada
In a release, Greenglass said the members will “help inform our regulatory approach as Ontario’s capital markets continue to evolve and remain responsive to emerging risks, opportunities and investor needs.”
In addition to providing input on proposed regulatory initiatives and rules, CMAC members will advise the OSC on strategic priorities to ensure they’re aligned with market realities and investor protection, and share insights on global and domestic trends, risks and opportunities for innovation.
“Ontario’s capital markets are operating in an increasingly dynamic and competitive global environment,” Kanji said in a release. “The expertise of CMAC members will help us identify long-term trends, support innovation and ensure Ontario remains a leading destination for investment and capital formation.”
In April, the OSC said the committee would also serve as an “integrated forum” for input previously provided through multiple committees. Its Market Structure Advisory Committee and Investment Funds Technical Advisory Committee have been put on pause during the pilot.
Input from CMAC is also meant to complement existing standing committees that provide more specialized feedback.
Members were chosen though a competitive application process, and if the committee is renewed, they can re-apply to serve another one-year term.