Scott Paterson, the recently-firedCEO of Yorkton Securities, has resigned as vice chairman of the Toronto Stock Exchange.

Paterson’s move comes just prior to an Ontario Securities Commission hearing on Wednesday to decide on penalties to be levied against the former brokerage head.

In a statement issued Tuesday Paterson said.”I am delighted to have served the investment industry as chairman of the CDNX and vice-chairman of the TSE.”

Paterson became the TSE’s vice-chairman in June 2000.