Grant Vingoe assumes new role as Acting OSC Chair and CEO

TORONTO, April 17, 2020 /CNW/ - The Ontario Securities Commission (OSC) has a new leader in Grant Vingoe who is now the Acting OSC Chair and Chief Executive Officer, effective April 15, 2020, following the departure of outgoing OSC Chair and CEO Maureen Jensen who announced her resignation in January.

The following statement was issued today by The Honourable Rod Phillips, Minister of Finance, on the leadership change at the OSC:

"On behalf of the Ontario Government, I want to thank Ms. Jensen for her important contributions to the work of the Ontario Securities Commission. Her dedication and commitment has allowed Ontario to continue to grow as one of the world's leading capital markets. In particular, I appreciate her work to reduce unnecessary regulatory burden and promote greater gender diversity on boards.

"Ms. Jensen has helped ensure a smooth transition for Chair Vingoe in recent months. We wish him all the best as he takes on this new role. We'll continue to work with him to support the OSC's mandate."

Acting OSC Chair Vingoe responded today with the following statement about his new role:

"I welcome the opportunity and responsibility associated with this important leadership role. At this time of unprecedented change, I am firmly focused on the importance of regulation to the economic health of our province and the protection of Ontarians. With the support of the dedicated OSC team, I am confident we will play a critical role in getting Ontario's capital markets and economy back on track. We are committed to building on Chair Maureen Jensen's success and being a source of stability during this period of uncertainty.

"We look forward to receiving the findings of the Capital Markets Modernization Taskforce whose members are working diligently on recommendations to reform the capital markets in Ontario. We welcome this opportunity to thoughtfully consider our focus and approach." 

Acting Chair Vingoe expressed his appreciation to The Honourable Rod Phillips, Minister of Finance, for the opportunity to lead the OSC and continue delivering regulation that is responsive to the needs of Ontario investors and businesses. 

He too thanked Ms. Jensen for her steadfast leadership of the OSC over the previous four years, and her years as Executive Director prior to that. He thanked the Board, executive team and staff across the OSC for their unwavering focus during this transition.

Grant Vingoe was previously OSC Vice-Chair before accepting this role. He was a partner with international law firms in Toronto and New York for more than 25 years before joining the OSC. He has extensive experience in cross-border securities activities and corporate governance and regulatory policy.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.gov.on.ca/.

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SOURCE Ontario Securities Commission