Securities Law & Instruments


IN THE MATTER OF

THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5, AS AMENDED
(the “Act”)

AND

IN THE MATTER OF
THE DESIGNATION BY THE EXECUTIVE DIRECTOR OF POSITIONS FOR
THE PURPOSES OF THE DEFINITION OF DIRECTOR IN THE ACT

AND

IN THE MATTER OF
THE ASSIGNMENT OF CERTAIN POWERS AND DUTIES OF
THE ONTARIO SECURITIES COMMISSION

EXECUTIVE DIRECTOR'S DESIGNATION AND DETERMINATION

                WHEREAS:

A.            On December 14, 2015 (the December 2015 Assignment), the Commission issued an amended and restated assignment pursuant to subsection 6(3) of the Act, assigning certain of its powers and duties under the Act to each "Director" as that term is defined in subsection 1(1) of the Act, acting individually.

B.            Under subsection 1(1) of the Act, "Director" means the Executive Director of the Commission, a Director or Deputy Director of the Commission, or a person employed by the Commission in a position designated by the Executive Director.

C.            The December 2015 Assignment provides that the Executive Director of the Commission shall from time to time determine which one or more other Directors, in each case acting alone, should, as an administrative matter, exercise each of the powers or perform each of the duties assigned by the Commission in paragraph 2 of the Assignment, each of which powers may also be exercised and performed by the Executive Director, acting alone.

D.            On March 4, 2010, the Executive Director issued a designation and determination (the March 2010 Designation) whereby the Executive Director, among other things: (i) revoked the previous existing designation and determination, (ii) designated certain positions, whether or not in an acting capacity, for the purposes of the definition of "Director" contained in subsection 1(1) of the Act, and (iii) determined that, in addition to the Executive Director acting alone, each Director (other than certain specified Directors) may exercise the powers and perform the duties assigned by the Commission to Directors in an assignment issued by the Commission pursuant to subsection 6(3) of the Act on February 2, 2010 and any other successor assignment in effect from time to time, until otherwise determined by the Executive Director.

E.            The Executive Director considers it desirable to amend and restate the March 2010 Designation to reflect: (i) the change in name of a branch of the Commission; (ii) the elimination of a position in the Compliance and Registrant Regulation Branch; and (iii) the change in responsibilities of staff of the Corporate Finance Branch for purposes of granting exemptions from fees for the late filing of insider reports on Form 55-102F2 under Commission Rule 13-502 Fees

                NOW THEREFORE, the Executive Director:

1.             revokes the March 2010 Designation;

2.             designates each of the following positions, whether or not in an acting capacity, for the purposes of the definition of "Director" contained in subsection 1(1) of the Act:

(a)           each Manager and Assistant Manager in the Corporate Finance Branch of the Commission,

(b)           each Manager, Assistant Manager, and Registration Supervisor in the Compliance and Registrant Regulation Branch of the Commission,

(c)           each Manager and Assistant Manager in the Market Regulation Branch of the Commission,

(d)           each Manager and Assistant Manager in the Enforcement Branch of the Commission,

(e)           each Manager and Assistant Manager in the Investment Funds and Structured Products Branch of the Commission,

(f)            the Chief Accountant of the Commission, and

(g)           the General Counsel of the Commission;

3.             designates the Supervisor-Business Processes and each Senior Legal Counsel and Senior Accountant in the Corporate Finance Branch of the Commission for the purposes of the definition of "Director" contained in subsection 1(1) of the Act, but solely for the purpose of granting exemptions from fees for the late filing of insider reports on Form 55-102F2 under Commission Rule 13-502 Fees; and

4.             determines that, in addition to the Executive Director acting alone, each Director, other than the Supervisor-Business Processes and each Senior Legal Counsel and Senior Accountant in the Corporate Finance Branch of the Commission, may exercise the powers and perform the duties assigned by the Commission to Directors in the December 2015 Assignment and any successor assignment in effect from time to time, until otherwise determined by the Executive Director.

                DATED at Toronto this 18th day of April, 2017.

“Leslie Byberg”
Executive Director
Ontario Securities Commission