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Consultative Committees

OSC staff members frequently establish committees to provide input on important securities regulation issues. We believe that effective communications with the stakeholders who are affected by our actions is an essential part of the regulatory process, and helps us ensure we achieve the appropriate balance between protecting investors and fostering efficient capital markets.

We may establish a consultative committee for one or more of the following purposes:

  • to seek a broad range of ideas and expertise as we develop new policy initiatives;
  • to understand how a specific, recently implemented policy is affecting capital market participants; and
  • to improve our understanding of the concerns and issues faced by a particular stakeholder group on an ongoing basis.

The following groups are currently active:

Chair's Industry Advisory Group
Continuous Disclosure Advisory Committee
Fund Governance Advisory Committee
IC/PM Advisers
Mining Technical Advisory and Monitoring Committee
Securities Advisory Committee
Senior Securities Legal Advisory Group
Small Business Advisory Committee
The Registration Advisory Committee

Please click on the above links to view the full description of each committee.

 













  Chair's Industry Advisory Group

The Chair's Industry Advisory Group provides an opportunity for senior executives in the investment industry to offer input directly to the Chair of the Commission on high-level policy topics. It also offers the Chair a forum for seeking informal feedback on topical issues.

The group, whose members represent a cross section of dealers, mutual fund companies and institutional investors, meets on a quarterly basis.

Members
Jack Curtin Goldman Sachs
David F. Denison CPP Investment Board
Ira Gluskin Gluskin Sheff + Associates Inc.
Claude Lamoureux Ontario Teachers' Pension Plan Board
Robert MacLellan TD Bank Financial Group
John Mulvihill Mulvihill Capital Management Inc.
Richard W. Nesbitt TSX Group
Charles R. Sims, CA Mackenzie Financial Corporation
Joan Smart Head of Scotiabank Group Compliance
Doug Steiner Perimeter Financial Corp.
Kevin Sullivan GMP Securities
Charles M. Winograd RBC Capital Markets

OSC staff contact: David Wilson
c/o Linda Shrubb
Executive Assistant
Tel: 416-593-8201
E-mail: lshrubb@osc.gov.on.ca

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  Continuous Disclosure Advisory Committee

The Continuous Disclosure Advisory Committee (CDAC) serves as a source of informed, balanced, timely advice and commentary to the OSC in the following areas:
  • the review of continuous disclosure filings made by reporting issuers; and
  • policy issues related to continuous disclosure.

Through this advisory role, the CDAC assists OSC staff in meeting the following goals:

  • increasing awareness of continuous disclosure issues;
  • effecting greater discipline in the market place with respect to continuous disclosure requirements and obligations.

The CDAC was established in the summer of 2002, and began meeting in September of that year.

Members
CDAC members serve two-year terms and meet four to six times each year. Committee members are chosen to reflect both the variety of industry sectors in our economy, and the variety of users involved in continuous disclosure activities, including CFOs, general counsel, investor relations officers and financial reporting personnel.

Frank Allen Borden Ladner Gervais LLP
Ian Bacque Canadian Investor Relations Institute
Len Boggio PriceWaterhouseCoopers LLP
Mary Condon Osgoode Hall Law School
Elizabeth DelBianco Celestica Inc.
Shantha Fernando National Steel Car Ltd.
Eleanor Fritz TSX Group
Barry Hildred The Equicom Group Inc.
Kelly Gorman (Chair) Ontario Securities Commission
Guy Jones Ernst & Young
Ken Kivenko Investor
Karen McCarthy Royal Bank of Canada
Paul Schneider Canadian Coalition for Good Governance
Jonathan Sherman Imperial Capital Corporation
Debra Sisti ISS Canada Corporation
Michael Vels Maple Leaf Foods Inc.
Dawn Whittaker Ogilvy Renault LLP
Michael Woollcombe Voorheis & Co. LLP

OSC staff contact: Kelly Gorman
Assistant Manager, Corporate Finance
Tel: 416-593-8251
E-mail: kgorman@osc.gov.on.ca

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  Fund Governance Advisory Committee

The Fund Governance Advisory Committee was created to serve as a sounding board for OSC staff following the publication of the Canadian Securities Administrators' concept proposal for a new framework for regulating mutual funds and their managers.

The committee provides advice and recommendations on technical and legal issues identified by staff or by the committee members, to ensure the regulations implementing the proposals are appropriate, practical and cost-effective for the Canadian mutual fund industry.

Since its creation in the spring of 2002, the Fund Governance Advisory Committee has typically met four times each year. Staff also consults with industry participants, including the IFIC Fund Governance Committee, and with investor representatives on many of the issues discussed with the advisory committee.

Members
The advisory committee consists of a maximum of ten lawyers or industry participants who specialize in investment management issues.

John Hall Borden Ladner Gervais
Lynn McGrade Borden Ladner Gervais
Linda Currie Osler Hoskin & Harcourt
Marlene Davidge Torys
Karen Malatest Torys
David Stevens Goodman & Carr
Stephen Erlichman Fasken Martineau
David Valentine Blake Cassels & Graydon

OSC staff contact: Susan Silma
Director, Investment Funds Branch
Tel: 416-593-2302
E-mail: ssilma@osc.gov.on.ca

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  IC/PM Advisers

OSC staff regularly invites groups of Investment Counsel/Portfolio Managers to discuss current issues and current regulatory changes. Topics recently discussed have included the new FINTRAC legislation, and proposed proficiency standards.

Participants
There are no set members. At each meeting there is a different group of approximately 10 advisers participating.

OSC staff contact: Marrianne Bridge
Manager, Compliance
Tel: 416-595-8907
E-mail: mbridge@osc.gov.on.ca

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  Mining Technical Advisory and Monitoring Committee

The Mining Technical Advisory and Monitoring Committee (MTAMC) provides advice to the Canadian Securities Administrators on technical issues relating to the application of National Instrument 43-101. The MTAMC also serves as a forum for continuing communication between the CSA and the mining industry.

The committee was created as a result of the recommendations in the Final Report of the TSE/OSC Mining Standards Task Force dated January 1999. It was constituted on March 12, 2001.


Members
The MTAMC is comprised of volunteers from across Canada who are involved in different sectors of the mining industry from early stage exploration to production. All have extensive technical expertise and a strong interest in securities regulatory policy as it relates to the mining industry. The committee is co-chaired by staff of the OSC and the BCSC.

Brian Abraham, LL.B., B.Sc., P.Geo. Fraser Milner Casgrain LLP
Lynda Bloom, P.Geo., MSc Halo Resources Ltd.
Michel Champagne, M.Sc., P.Geo. Sidex s.e.c.
Catherine Gignac Wellington West, Capital Markets Inc.
Greg Gosson, Ph.D. P.Geo. AMEC Americas Limited
Bernie Haystead, P.Geol. CIBC World Markets
Alf Hills, BASc, P.Eng. Consultant
Robert Holland, P.Geo. B.C. Securities Commission
Leon Lyszkiewicz, MSc. P.Geo. P.Geol. (Observer) TSX Venture Exchange
Francis Manns, Ph.D., P.Geo. (Observer) Toronto Stock Exchange
Keith McCandlish, P.Geol. Associated Geosciences Ltd.
Deborah McCombe, P.Geo. Scott Wilson Roscoe Postle Associates Inc.
Duncan McIvor, P.Geo. Consultant
Chester M. Moore, P.Eng., P.Geo. Scott Wilson Roscoe Postle Associates Inc.
John M. Morganti, Ph.D., P.Geo. Teck Cominco Limited
John T. Postle, P.Eng Scott Wilson Roscoe Postle Associates Inc.
Gérald Riverin, géo, Ph.D. Ressources Cogitore Inc.
Kenneth R. Shannon, P.Geo. Corriente Resources Inc.
Val Spring, P.Eng. Watts Griffis and McOuat

Contact: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)

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  Securities Advisory Committee

The Securities Advisory Committee (SAC) provides advice to the OSC on a variety of matters, including legislative and policy initiatives and important capital markets trends.

At the request of the OSC, SAC provides advice and comments on the legal, regulatory and market implications of any aspect of Commission rules, policies, operations, and administration. On its own initiative, SAC may report to the OSC at any time on issues the members consider should be addressed by the Commission or of which the Commission should be aware. SAC may report annually to the Chair of the OSC on its activities for the preceding year.

SAC generally meets once per month. The OSC's General Counsel attends all meetings and serves as the liaison between SAC and the Commission. SAC was constituted in 1998.

Members
SAC members generally serve for terms of two to three years. Members are expected to have an excellent knowledge of Ontario securities law, significant practice experience, and a strong interest in the development of securities regulatory policy.

Additional details on SAC can be found in OSC Policy 11-601 (25 O.S.C.B. 683).

Mark Convery Ogilvy Renault, LLP
Carol Hansell Davies Ward Phillips & Vineberg LLP
Glen R. Johnson Torys LLP
Lonnie Kirsh Kutkevicius Kirsh LLP
Margaret Nelligan Aird & Berlis LLP
David Valentine Blake, Cassels & Graydon LLP
Gina Yee Scotia Capital Inc.
Andrew Kingsmill Bennett Jones Toronto
John Macfarlane Osler, Hoskin & Harcourt LLP
Mark Mandel White & Case LLP
Alfred Page Borden Ladner Gervais LLP
Andrew Parker McCarthy Tétrault LLP

OSC staff contact: Monica Kowal
General Counsel
Tel: 416-593-3653
E-mail: mkowal@osc.gov.on.ca

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  Senior Securities Legal Advisory Group

The Senior Securities Legal Advisory Group is a group of senior securities and corporate law practitioners who meet on a quarterly basis with the Chair and General Counsel of the Commission.

This forum offers the Chair an opportunity to raise topical issues and get advice and feedback in an informal and interactive setting. It also offers this representative group of legal practitioners an opportunity to raise with the Chair issues of concern to them.

Members
Members Firm
Phil Anisman Anisman, Phil
David Jackson Blake, Cassels & Graydon LLP
Alan Bell Bennett Jones LLP
Frank Allen
Paul Mingay
Borden Lander Gervais LLP
Shawn McReynolds
Patricia Olasker
Davies Ward Phillips & Vineberg LLP
William Orr
Richard Steinberg
Fasken Martineau DuMoulin LLP
Richard Scott
Ralph Shay
Fraser Milner Casgrain LLP
Stephen Halperin
Jonathan Lampe
Goodmans LLP
Connie Sugiyama Gowlings
Jeff Barnes Heenan Blaikie LLP
Rene Sorell McCarthy Tetrault
Margaret McNee McMillan Binch Mendelsohn LLP
Cathy Singer Ogilvy Renault LLP
Jean Fraser Osler, Hoskin & Harcourt LLP
William Braithwaite
Ed Waitzer
Stikeman Elliott LLP
Peter Jewett Torys LLP
William C. Ross
Wayne T. Egan
Weir Foulds LLP

OSC staff contact: Monica Kowal
General Counsel
Tel: 416-593-3653
E-mail: mkowal@osc.gov.on.ca

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  Small Business Advisory Committee

The Small Business Advisory Committee (SBAC) was established in the fall of 2002 to advise OSC staff on various securities regulatory issues facing small and medium-sized businesses in Ontario including issues arising from rules and regulations relating to disclosure, financial reporting, internal controls and prospectus and registration exemptions.

Drawing on its members' diverse backgrounds and experiences gained from a broad spectrum of industry sectors, the committee's mandate is twofold:

(a) to advise OSC staff on the impact of existing and proposed securities regulations on small and medium-sized businesses; and

(b) to serve as a forum for continuing communication between the Commission and small and medium-sized businesses.

Members
The committee includes representatives of small businesses, industry associations, law and accounting firms. Members serve two-year terms. The committee is currently comprised of the following individuals:

Erez Blumberger Manager, Corporate Finance, Ontario Securities Commission (SBAC Chair)
Steve Callan Assurance & Advisory Partner, Mintz & Partners LLP
Ungad Chadda Director, Listed Issuer Services, Ontario and NEX, TSX Venture Exchange
Julia Dublin Partner, Aylesworth LLP
Tom Forestell Partner, Grant Thornton LLP
Eric Lowy General Counsel and Corporate Secretary, Syndesis Limited
Neill May Partner, Goodmans LLP
Michèle D. McCarthy Lawyer, McCarthy Law
Stephanie A. McManus Lawyer, Compliance Support Services
Kelly E. Miller National Risk Partner, National Risk Management, BDO Dunwoody LLP
Naomi Morisawa De Koven Business & Securities Lawyer, Morisawa De Koven Professional Corporation
Morley W. Salmon Chairman of the Board, Limited Market Dealers Association of Canada
Pierre Soulard Partner, Ogilvy Renault LLP
Malvin Spooner President & CEO, Mavrix Fund Management Inc.
Jennifer A. Wainwright Partner, Aird & Berlis LLP
Doug Waterson CFO & Portfolio Manager, Faircourt Asset Management Inc.


National Instrument 45-106 Prospectus and Registration Exemptions affects reporting issuers, including certain small businesses, in Canada. The Ontario Securities Commission has prepared a web-based presentation summarizing many of the requirements. To access the webcast, please click here.


OSC staff contact: Erez Blumberger
Assistant Manager, Corporate Finance Branch
Ontario Securities Commission
Tel: 416-593-3662
Fax: 416-593-8244
Email: eblumberger@osc.gov.on.ca

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  The Registration Advisory Committee

The Ontario Securities Commission has formed an industry consultation group to discuss and recommend solutions to registration related issues. The group consists of both regulators and market participants. The market participants represent large and small firms, from investment dealers, mutual fund dealers, scholarship plan dealers, and investment counsel and portfolio managers. This committee encourages an open dialogue between registrants and regulators in Ontario. The committee is also joined by regulators from the Canadian Securities Administrators (CSA) on a quarterly basis in order to resolve those issues that involve other jurisdictions.

The mandate of the committee is as follows:

This committee will serve as a forum to identify, discuss and make recommendations to resolve registration and related issues found by market participants and regulators in Ontario and to raise these issues with the CSA.

The Chairperson of the committee is Lynn Dickinson of the BMO Nesbitt Burns Inc. If you have items that you wish to be brought forward to the group for discussion, you may send it to one of the representatives listed below.

Magie Bungaroo, Scotia Capital Magie_Bungaroo@scotiacapital.com

Betty Davis, BMO

Betty.Davis@bmo.com

Lynn Dickinson, BMO Nesbitt Burns Inc.

lynn.dickinson@bmonb.com

Dina Dizon, Ontario Securities Commission

ddizon@osc.gov.on.ca

Wendyanne D'Silva, Investment Dealers Association

wdsilva@ida.ca

Karen Eby, CDS Inc.

keby@cds.ca

David Gilkes, Ontario Securities Commission

dgilkes@osc.gov.on.ca

Jennelyn Jugueta, GMP Securities L.P.

jennelynj@gmpsecurities.com

Donna Leitch, Ontario Securities Commission

dleitch@osc.gov.on.ca

Sherry MacDonald, C.S.T. Consultants Inc.

smacdonald@cst.org

Natalie Marshall, Royal Bank of Canada

natalie.marshall@rbc.com

Amanda Moore, Royal Bank of Canada

amanda.moore@rbccm.com

Cindy Morrison, Manulife Securities Investment Services Inc. cindy.morrison@manulifesecurities.ca

Gordon Pansegrau, Manulife Financial

gordon_pansegrau@manulife.com

Carol Persaud, CIBC Wealth Management

carol.persaud@cibc.com

Karamjit Gill, TD Bank Financial Group

karamjit.gill@td.com

Mark Riden, Investment Counsel Association of Canada

bmriden@sympatico.ca

Glenn Risch,CDS Inc.

grisch@cds.ca

Brigitte Roby, National Bank

Brigitte. Roby@bnc.ca

Morley Salmon, CANUSA Capital Corp msalmon@CANUSAcapitalcorp.com

Helen Walsh, Ontario Securities Commission

hwalsh@osc.gov.on.ca

Ken Woodard, Mutual Fund Dealers Association

kwoodard@mfda.ca


The following is a list of the representatives from the CSA:

Doug Brown, Manitoba Securities Commission

doubrown@gov.mb.ca

Mark Gallant, Prince Edward Island Securities Registry

mlgallant@gov.pe.ca

David McKellar, Alberta Securities Commission

david.mckellar@seccom.ab.ca

Dean Murrison, Saskatchewan Financial Services Commission

dmurrison@sfsc.gov.sk.ca

Luc LeBlanc, New Brunswick Securities

Luc.LeBlanc2@gnb.ca

Steve Plummer, British Columbia Securities Commission

SPlummer@bcsc.bc.ca

Claude Prevost, Autorité des marchés financiers

claude.prevost@lautorite.qc.ca

Brian Murphy, Nova Scotia Securities Commission

MURPHYBW@gov.ns.ca

Isilda Tavares, Manitoba Securities Commission

itavares@gov.mb.ca

 

OSC staff contact:

Donna Leitch
Assistant Manager, Registrant Regulation
Ontario Securities Commission
Tel: 416-593-8263
Fax: 416-593-8283
Email: dleitch@osc.gov.on.ca



 
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