Executive Director's Designation and Determination in the Matter of the Assignment of Certain Powers and Duties of the Ontario Securities Commission

On March 4, 2010, the Executive Director of the Ontario Securities Commission issued a new Designation and Determination. The new Designation and Determination revokes and restates the previous Designation and Determination of the Executive Director that was issued on August 16, 2007.

Under the new Designation and Determination, the new positions of Senior Registration Supervisor and Registration Supervisor, in the Compliance and Registrant Regulation Branch of the Commission, were added to the positions previously designated by the Executive Director for the purposes of the definition of "Director" in the Securities Act (Ontario).

The new Designation and Determination is published in Chapter 2.2 of this Bulletin.

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 March 16, 2007, the Commission issued an amended and restated Assignment (the March 2007 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. On February 2, 2010, the Commission revoked the March 2007 Assignment and replaced it with an amended and restated assignment (the February 2010 Assignment).

C. 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.

D. The February 2010 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 alone.

E. On August 16, 2007, the Executive Director issued a designation and determination (the August 2007 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 the March 2007 Assignment an any other successor assignment in effect from time to time, until otherwise determined by the Executive Director.

F. The Compliance and Registrant Regulation Branch of the Commission is implementing a new organizational structure (the Reorganized CRR) with four multi-functional, integrated teams reporting to two new Deputy Director positions.

G. Under the Reorganized CRR, the positions of Assistant Manager, Registrant Regulation will not be continued and many activities which were previously the responsibility of these Assistant Managers will become the responsibility of the new positions of Senior Registration Supervisor or Registration Supervisor for three of the four teams.

NOW THEREFORE, the Executive Director:

1. revokes the August 2007 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, Senior Registration Supervisor 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 Branch of the Commission,

(f) the Chief Accountant of the Commission, and

(g) the General Counsel of the Commission;

3. designates the Supervisor-Insider Reporting Group 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-Insider Reporting Group, 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 February 2010 Assignment and any successor assignment in effect from time to time, until otherwise determined by the Executive Director.

DATED AT TORONTO this 4th day of March, 2010.