OSC Announces New Chair, Members of Investor Advisory Panel

TORONTO – The Ontario Securities Commission (OSC) today announced seven new members of its independent Investor Advisory Panel (IAP), as well as the appointment of a new Chair.

The IAP advises and comments on proposed rules, policies and investor protection initiatives, while considering the views of a broad range of investors through consultation with investors and organizations representing investors.

Letty Dewar has been appointed Chair of the IAP, effective June 1, 2017. Ms. Dewar has served on the IAP since 2014.

Seven new members will also be joining the IAP over the course of the year. Jacqueline Allen, Larry Bates and Malcolm Heins each began a two-year term effective June 19, 2017. Additionally, Paul Bates, Patti Best, Neil Gross and Harvey Naglie will each begin two-year terms as of November 1, 2017.

The new members join Ms. Dewar and Louise Tardif, who are continuing members of the Panel.

The OSC thanks outgoing Chair Ursula Menke for her contributions to the IAP, and extends its appreciation to outgoing IAP members Connie Craddock, Harold Geller, Ken Kivenko and Alison Knight for their work on the Panel over the years.

The IAP is an important voice for investors in the regulatory process, and new members were selected to ensure that the Panel continues to represent a broad range of relevant experience, skills, knowledge and perspectives.

Full biographical information on all IAP members, along with details on IAP meetings and other activity, is available in the Investor Advisory Panel section of the OSC website.

 

Biographical notes for the new IAP members

 

Jacqueline Allen

Ms. Allen holds an MBA and most recently served as the Head of Portfolio and Electronic Trading Sales at Bank of America Merrill Lynch Canada. Her 25 year career spans capital markets and financial services at KPMG and SK Group in New York, and at Merrill Lynch and Bank of America in Toronto.

Larry Bates

Mr. Bates brings 30 years of experience in fixed income markets in both Canada and the United Kingdom. Recently, he has shifted his focus to investor advocacy with the launch of his website, wealthgame.ca, and is the creator of the ‘T-REX score,’ which represents an investor’s total investment gain after all fees are paid.

Paul Bates

Mr. Bates has been a lawyer for over 30 years, with a diverse legal practice concentrating on complex commercial litigation, including securities litigation and claims against financial advisors and portfolio managers. He has volunteered as a member of both the Consumers Council of Canada’s Board of Directors and the Financial Services Tribunal’s Legal Advisory Committee.

Patti Best

Ms. Best is a former senior executive in the investment industry, bringing over 40 years of experience with brokerage firms, fund manufacturers and mutual fund dealers, as well as a diverse background in client relations, investment product operations and administration, systems and product development.

Neil Gross

A lawyer for over 30 years with a focus on investor protection issues, Mr. Gross is the former Executive Director of the Canadian Foundation for Advancement of Investor Rights (FAIR Canada) and a current strategic consultant on public policy issues.

Malcolm Heins

Mr. Heins is a lawyer with over 40 years of experience and is currently a director of the Lawyers’ Professional Indemnity Company, the Ontario Municipal Insurance Exchange and Cancer Care Ontario. He is the former Chair of the Ontario Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives, and the former CEO of the Law Society of Upper Canada.

Harvey Naglie

Mr. Naglie has over 40 years of experience in both the public and private sectors, primarily in financial services. He is a former Senior Policy Advisor for the Ontario Ministry of Finance’s Financial Services Policy Division.

 

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at www.osc.ca.

 

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