W. DAVID WILSON FORMALLY APPOINTED NEW OSC CHAIR

TORONTO – Minister of Government Services Gerry Phillips announced today that W. David Wilson has been formally appointed as Chair of the Ontario Securities Commission (OSC) for a five-year term, effective November 1, 2005.

"The position of OSC Chair is important in ensuring Ontario's capital markets are strong and have the confidence of investors and publicly traded companies alike," Phillips said. "I am very pleased to have someone with Mr. Wilson's experience and credentials taking on this key role."

Mr. Wilson's nomination by the Government was announced on June 22. On September 7, the all-party Standing Committee on Government Agencies reviewed and concurred with Mr. Wilson's appointment as the new Chair. His appointment will become effective on November 1. In the interim, Susan Wolburgh Jenah, Vice-Chair of the Commission, is acting Chair.

Wilson is currently Vice-Chairman of the Bank of Nova Scotia and Chairman and Chief Executive Officer of Scotia Capital. He has extensive capital markets experience and a demonstrated ability to lead complex organizations. He has also been advising the government on its work toward a common Canadian securities regulator. A copy of Wilson's biography is available on the OSC's web site (www.osc.gov.on.ca).

The Ontario Securities Commission administers and enforces Ontario securities laws. Its mandate includes protecting investors from unfair, improper and fraudulent practices, and fostering fair and efficient capital markets and confidence in their integrity.

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Contacts: Ciaran Ganley Minister's Office (416) 212-3547 Disponible en français	Manuel Alas-Sevillano Ministry of Finance (416) 212-2155
www.mgs.gov.on.ca