FSRA chief tapped for Ontario Energy Board

The head of the Financial Services Regulatory Authority of Ontario (FSRA), CEO Mark White, has been tapped to take over as chair of the Ontario Energy Board.

FSRA said it will announce the details of its succession plan for White if the appointment is approved.

White’s nomination must still be reviewed by the Standing Committee on Government Agencies before his appointment can be confirmed.

“Until the appointment is confirmed, it will be business as usual at FSRA,” said FSRA chairperson Joanne De Laurentiis in a release.

White has served as FSRA’s first CEO since May 2018. He presided over the implementation of Ontario’s title protection framework, which established a minimum standard of proficiency for financial advisors and planners for the first time. However, the framework has come under criticism for its multiple-credential approach and, for advisors, its product focus.

Before joining FSRA, White was senior vice-president & head enterprise risk at the Bank of Montreal (BMO). He joined the bank from the Office of the Superintendent of Financial Institutions, and previously worked at RBC Capital Markets and Ernst & Young LLP, among other roles.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.