IDA, RS name president of merged entity

The IDA has named the head of the new self-regulatory organization that will be created by the proposed merger with Market Regulation Services Inc. (RS). Susan Wolburgh Jenah will be the new SRO’s first president and CEO.

Wolburgh Jenah is currently the vice-chair at the Ontario Securities Commission, a member of the board of directors and a member of the Commission’s adjudicative committee. She joined the OSC in 1983 and, prior to being named vice-chair, served as general counsel and director of international affairs.

“We are extremely pleased to have Susan on board,” said IDA chair, Ronald S. Lloyd. “We conducted a thorough search and spoke to a number of outstanding candidates. With Susan, we were very impressed with the extensive regulatory experience, deep understanding of the securities industry and capital markets, and the strategic insight she will bring to the role.”

Since the new SRO has not yet been formed, the first step for Wolburgh Jenah will be to join the IDA–RS Steering Committee, effective February 19, 2007. Her appointment as president and CEO will take effect once the proposed organization begins operations.

“Combining member and market regulation into a single entity makes a lot of sense. This is a unique opportunity to build on the considerable depth of knowledge and expertise that resides in each of the merging organizations to further enhance the high quality of the regulatory system in Canada,” said Wolburgh Jenah. “This high quality is very evident in the strong teams from the IDA and RS that, through this proposed merger, will become even stronger.”

The Steering Committee is working with the Canadian Securities Administrators and capital markets stakeholders to hash out the structure of the proposed new organization. Once this has been completed, formal approvals will be sought in early 2007 from the boards of the IDA and its member firms, RS and TSX, and from the CSA.

IDA president Joe Oliver, who championed the IDA-RS merger, and tried, unsuccessfully, to bring the MFDA on board, is retiring.

Filed by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com