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THE HONOURABLE HOWARD I. WETSTON, Q.C.
Chair
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The Honourable Howard I. Wetston was appointed Chair of the Ontario Securities Commission on November 15, 2010. Mr. Wetston served as Chair and CEO of the Ontario Energy Board from 2003 until his appointment to the OSC.
From 1999 to 2003, Mr. Wetston served as Vice-Chair of the OSC. From 1993 to 1999, he was a judge of the Federal Court of Canada, Trial Division. From 1989 to 1993, he was the Director of Investigation and Research (now Commissioner of Competition), Bureau of Competition Policy.
Previously, Mr. Wetston was in private practice in Ottawa. Before entering private practice, he served as General Counsel to the Canadian Transport Commission. Prior to that position, he was Associate General Counsel to the National Energy Board. Prior to that, he served as General Counsel to the Consumers Association of Canada. In addition, Mr. Wetston was a member of the Department of Justice as Crown Counsel and Crown Counsel in the Nova Scotia Attorney General’s Department.
Mr. Wetston was appointed Queen’s Counsel in 1990 and is a member of the Ontario and Alberta Bars. He is a graduate of the Certified Directors Education Program of the Institute of Corporate Directors (ICD). Mr. Wetston is a member of the Board of Directors of Mount Sinai Hospital.
As Chair of the OSC, Mr. Wetston is both Chair of the Board of Directors and the Chief Executive Officer, as set out under the Securities Act (Ontario).
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Appointed: November 2010
Term expires: November 2013
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MARY G. CONDON BA, MA, LLM, SJD
Vice-Chair
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Professor Mary Condon is a leading academic in the area of securities law. She teaches securities law at Osgoode Hall Law School, and also directs and teaches in its part-time LLM program specializing in securities law.
She is co-author of Securities Law in Canada: Cases and Commentary (2nd ed. 2010) and Business Organizations: Principles, Policies and Practice (2007), and author of Making Disclosure: Ideas and Interests in Ontario Securities Regulation (1998). She is also the author of numerous articles, book chapters and commentaries on topics related to securities regulation and pension policy, and has presented conference papers and given lectures nationally and internationally.
Prior to her appointment as Vice-Chair, Professor Condon served as a Commissioner to the OSC for over three years.
Professor Condon is a member of the Board of Trustees of the York University Pension Fund and is a member of the Investor Education Fund board of directors.
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Appointed: June 2011
Term expires: June 2013
Committees:
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JAMES E. A. TURNER
Vice-Chair
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James Turner brings over 30 years of legal experience, specializing in corporate, securities, mergers and acquisitions and corporate governance matters to his role as Vice-Chair. Prior to joining the Commission, Mr. Turner was a senior partner with Torys LLP where he advised numerous public companies and boards of directors in connection with governance matters, fiduciary duties, public takeover bids and mergers and acquisitions.
Mr. Turner is a former General Counsel of the Ontario Securities Commission (1987-88). He is recognized internationally as a leading practitioner in capital markets, mergers and acquisitions and securities law.
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Appointed: February 2007
Term expires: February 2012
Committees:
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LAWRENCE E. RITCHIE
Vice-Chair
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Lawrence Ritchie brings extensive litigation experience to the Commission’s adjudicative function. A former partner at Osler, Hoskin & Harcourt in Toronto, he was a litigator for almost 20 years, specializing in general corporate, securities and commercial litigation.
Mr. Ritchie served as enforcement counsel in a secondment to the Ontario Securities Commission in 1993. Upon return to his law firm, he acted for various market participants in a wide range of securities-related proceedings. He also advised public corporations and their officers and directors on internal and regulatory investigations, and reputational risk management.
Effective July 13, 2009, Mr. Ritchie was seconded to the Canadian Securities Transition Office, where he serves as Executive Vice-President and Senior Policy Advisor.
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Appointed: February 2007
Term expires: February 2012
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SINAN O. AKDENIZ
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Sinan Akdeniz has over 10 years of experience in institutional trading, operations, derivatives and structured products, in Canada and internationally. He retired in 2008 as Vice Chair and Chief Operating Officer of TD Securities, after holding positions of increasing responsibility in trading management within TD Bank Financial Group. He brings a strong understanding and practical experience to issues relating to product structure, systemic risk and rapidly evolving marketplaces.
Prior to joining TD Bank Financial Group, Mr. Akdeniz worked with Touche Ross & Co. UK, as a Chartered Accountant.
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Appointed: September 2009
Term expires: September 2012
Committees:
- Human Resources and Compensation Committee
- Audit and Finance Committee
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THE HONOURABLE JAMES D. CARNWATH Q.C.
Chair, Adjudicative Committee
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The Honourable James Carnwath brings over 45 years of legal, adjudicative and administrative law experience to the Commission’s adjudicative function. Called to the Bar in 1962, he was a Bencher of the Law Society of Upper Canada from 1974 to 1980, when he was appointed to the Bench.
He served as regional Senior Judge for the Central-West Region from 1994 to 1999. He transferred to Toronto in 2000 and sat mainly in Divisional Court. He retired from the Ontario Superior Court of Justice in September 2009.
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Appointed: August 2009
Term expires: August 2012
Committees:
- Adjudicative Committee (Chair)
- Governance and Nominating Committee
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MARGOT C. HOWARD, CFA
Chair, Audit and Finance Committee
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Margot Howard is a Chartered Financial Analyst with over 20 years of investment management experience and extensive knowledge of the Canadian capital markets. As a former portfolio manager for individuals, foundations and pension funds, Ms. Howard brings an investor perspective to initiatives ranging from Canada’s transition to International Financial Reporting Standards to product structure and disclosure, and to her work on adjudicative panels.
She began her career with McLeod Young Weir in 1985. Most recently, she was a portfolio manager with AMI Partners. Prior to that, Ms. Howard held senior positions with C.A. Delaney Capital Management Ltd. and Scotia McLeod Inc.
Ms. Howard is an active member of Women in Capital Markets and is on the board of the Peter Gzowski Foundation for Literacy.
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Appointed: December 2006
Reappointed: December 2008, December 2011
Term expires: December 2012
Committees:
- Audit and Finance Committee (Chair)
- Human Resources and Compensation Committee
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SARAH B. KAVANAGH
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Sarah Kavanagh has over 20 years of experience in investment banking in Canada and the United States. Most recently, she held senior positions with Scotia Capital’s investment banking group, where she was responsible for key industries in the Ontario economy, such as media, telecommunications, consumer products, forestry and power, and was actively involved in numerous IPO and public equity and income trust financings. Ms. Kavanagh has also held senior finance positions at several Canadian corporations.
Ms. Kavanagh has an MBA from Harvard Business School and a BA in economics.
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Appointed: June 2011
Term expires: June 2013
Committees:
- Audit and Finance Committee
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KEVIN J. KELLY
Lead Director
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With over 30 years of experience as a senior executive in the North American capital markets and financial services industry, Kevin Kelly brings a strong understanding of issues relating to retail and institutional investors.
He has served as President and Co-CEO of Wellington West Capital Inc., President of Fidelity Brokerage Company based in Boston, President of Fidelity Investments Institutional Services Co., President and CEO of Fidelity Investments Canada Ltd., and President and CEO of Bimcor Inc. Prior these positions, Mr. Kelly served in senior management positions at Investment Corporation, Midland Walwyn Capital, Inc. and Merrill Lynch Canada, Inc.
Mr. Kelly is a member and Past Chair of the Canada-US Fulbright Foundation board of directors.
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Appointed: December 2006
Reappointed: December 2008, December 2011
Term expires: December 2012
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PAULETTE L. KENNEDY, CA
Chair, Human Resources and Compensation Committee
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As a Chartered Accountant with over 30 years of financial reporting, audit and management experience, Paulette Kennedy brings significant expertise to initiatives relating to Canada’s transition to International Financial Reporting Standards, as well as the Commission’s own Audit Committee. Her strong practical knowledge of the investment fund industry has contributed to policy initiatives on scholarship plans, mutual funds and product risks, and participation in the Joint Forum of Market Regulators as a CSA representative. Ms. Kennedy’s varied background provides valuable context to adjudicative work relating to disclosure, registration and distribution issues.
A chartered accountant since 1979, Ms. Kennedy has held senior management positions at Ford Motor Company of Canada, Sun Life Financial, Sobeys Inc. and AEGON Canada.
Ms. Kennedy is a member of the business board of the University of Toronto and vice chair of its Audit Committee, and is a member of the board of Toronto Hydro Corporation, its Audit Committee and its Corporate Governance Committee. She has also served on the board of directors of financial services and mutual fund management companies.
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Appointed: April 2008
Reappointed: April 2010
Term expires: March 2013
Committees:
- Audit and Finance Committee
- Human Resources and Compensation Committee (Chair)
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EDWARD KERWIN
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Edward Kerwin brings extensive legal expertise, knowledge of the capital markets and experience as a director to the Commission’s regulatory, adjudicative and operational functions.
Mr. Kerwin has more than 35 years of experience in securities, mergers and acquisitions, and corporate governance law. As a partner of McCarthy Tétrault from 1979 until his retirement in 2009, he advised major investment dealers on securities offerings by reporting issuers and advised the senior management of issuers. He practised law in Toronto, Calgary and London, U.K., wrote more than 60 articles, and lectured nationally and internationally.
Mr. Kerwin was called to the Ontario bar in 1973 and the Alberta bar in 1981. He holds the ICD.D designation and has served on the boards of a number of TMX-listed corporations, arts organizations, and university and charitable bodies.
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Appointed: January 2011
Term expires: January 2013
Committees:
- Adjudicative Committee
- Human Resources and Compensation Committee
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VERN KRISHNA, CM, Q.C., FCGA
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Vern Krishna, practises tax litigation, mediation and arbitration in the International Tax and Wealth Management Practice of Borden Ladner Gervais LLP in Ottawa.
Since 1981, Mr. Krishna has taught tax, finance and corporate law as a full professor in the Faculty of Law of the University of Ottawa. He is also the Executive Director of the CGA Tax and International Business Research Centres at the University of Ottawa.
Mr. Krishna is a Member of the Order of Canada. He previously served as an OSC Commissioner from 1994 to 1997.
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Appointed: October 2010
Term expires: October 2012
Committees:
- Adjudicative Committee
- Audit and Finance Committee
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CHRISTOPHER PORTNER
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Christopher Portner brings extensive legal, mergers and acquisitions and governance expertise to the Commission, particularly with respect to fulfilling its public interest mandate.
Mr. Portner has been a partner at Osler, Hoskin and Harcourt LLP for 30 years. His practice is focused on mergers and acquisitions and corporate governance. He has advised major public and private corporations in the energy and financial services sectors on mergers and acquisitions transactions and on corporate, finance, regulatory and governance matters. In addition, he has provided regulatory advice to Ontario and federal Crown corporations.
Mr. Portner was called to the Quebec bar in 1972 and the Ontario bar in 1980. He is a director of the Wellspring Cancer Support Foundation.
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Appointed: December 2010
Term expires: December 2012
Committees:
- Adjudicative Committee
- Governance and Nominating Committee
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JUDITH N. ROBERTSON, CFA
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With over 25 years of international financial services experience in senior positions in both buy-side and sell-side firms, Judith Robertson brings substantial expertise in securities markets, infrastructure, trading technologies, securities lending and investment products.
Most recently, Ms. Robertson was President and CEO of Belzberg Technologies Inc., a provider of integrated trading technology and brokerage services. Prior to joining Belzberg, Ms. Robertson was Executive Vice President with Perimeter Financial Corp., was CEO of Markets Inc. and was a Managing Director with Barclays Global Investors in San Francisco, London and Toronto.
Ms. Robertson is a Chartered Financial Analyst and has been an active participant in industry issues, serving as Chair of the Implementation Committee for the Order Protection Rule and as a member of the Market Rules Advisory Committee of IIROC. In addition, Ms. Robertson serves on the board of MPrime Network, a Network of Centres of Excellence for the mathematical sciences.
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Appointed: June 2011
Term expires: June 2013
Committees:
- Governance and Nominating Committee
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CHARLES WESLEY MOORE SCOTT
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Wes Scott is a retired corporate executive who spent over 30 years in the Bell Canada group, retiring in 2001 as Chief Corporate Officer of BCE Inc. and Vice Chairman of Bell Canada. As former Chief Financial Officer of two of the country’s largest reporting issuers, Mr. Scott has extensive experience dealing at the board level with complex financial, strategic and operational issues. As former Chief Regulatory Officer of Bell Canada, he brings experience with administrative tribunals and their processes. He also brings a strong understanding of financial reporting, disclosure and control from the perspective of reporting issuers and investors.
Mr. Scott is currently the Chair of the Aviva Canada board of directors and has been a member of many public and private company boards in Canada and the United States. He has been an active volunteer, notably with the Hospital for Sick Children.
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Appointed: September 2009
Term expires: September 2012
Committees:
- Governance and Nominating Committee (Chair)
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