OSC names inaugural members of new capital markets advisory committee

CMAC will be co-chaired by Susan Greenglass, the OSC’s Executive Vice President of Regulatory Operations, and Naizam Kanji, Executive Vice President of Strategic Regulation.

Greenglass called the committee an important forum for dialogue with experienced market participants and industry leaders, saying their perspectives would help inform the OSC’s regulatory approach as the province’s capital markets evolve and respond to emerging risks, opportunities and investor needs.

Kanji said Ontario’s capital markets are operating in an increasingly dynamic and competitive global environment, and that CMAC members’ expertise would help the OSC identify long-term trends, support innovation and keep Ontario a leading destination for investment and capital formation.

The OSC said the inaugural members were chosen through a competitive application process that drew strong interest from across Ontario’s capital markets. A list of committee members is posted on the OSC’s website, though it was not included in the regulator’s release. Members will serve one-year terms during the pilot period, and the OSC thanked all applicants for their interest.

CMAC is advisory, not rule-making, and the release included no specific policy proposals, so the near-term impact on wealth managers and advisors is limited. But the committee is designed to feed directly into the OSC’s regulatory thinking, and its asset management representation means its input could eventually touch issues affecting fund managers and dealers, though the regulator has not outlined a timeline or agenda for that work.