OSC appoints 2 new commissioners

Veteran securities lawyer Heather Zordel and finance professional Mary Anne De Monte-Whelan are joining the Ontario Securities Commission (OSC) as commissioners.

Zordel, a partner at Gardiner Roberts LLP in Toronto, served on the federal Expert Panel on Securities Regulation and is a past chair of the regulator’s securities advisory committee. Among other things, she is a Bencher at the Law Society of Ontario and course director for the Osgoode master’s degree program in securities law.

De Monte-Whelan, who has a background in corporate and investment banking, is currently president of consulting firm The Delan Group, which specializes in “strategic positioning, equity and investment analysis,” a release says.

Maureen Jensen, OSC chair and CEO, said in the release that Zordel and De Monte-Whelan bring “a tremendous breadth of financial experience and strong industry perspectives” to the commission. “I look forward to working closely with them to deliver regulation that drives opportunities for Ontario businesses and investors,” she said.

Commissioners at the OSC are appointed by the lieutenant governor in council to fill multiple roles. They serve on its internal tribunal, which presides over enforcement cases and other hearings that come before the regulator; they’re involved in policy development; and they act as the commission’s board, overseeing its operations.

The new commissioners will each serve a two-year term.

With these latest appointments, the OSC now has a total of nine commissioners, including Jensen and its two vice chairs who are the only full-time members of the commission. Nine is the minimum required, while the maximum is 16.

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