OSC Chair and CEO Maureen Jensen Calls for Leadership on Women on Boards
For Immediate Release OSC
TORONTO - Ontario Securities Commission (OSC) Chair and CEO Maureen Jensen today delivered her first keynote address before the Toronto Region Board of Trade, calling on corporate Canada to make gender diversity a priority in the boardroom and executive suite.
Speaking to business leaders, Chair Jensen discussed the low number of women filling board vacancies, stressing that board turnover is an opportunity for companies to demonstrate they are serious about increasing the number of women.
“Of the 521 board seats vacated during the year, just 15% were filled by women,” said Chair Jensen. “Without an improvement in the vacancy fill rate, we will never reach 30% female board representation.”
During the event, Chair Jensen also announced plans for OSC LaunchPad, the first innovation hub by a Canadian securities regulator, will feature a dedicated team of OSC staff working directly with fintech companies to help them navigate the regulatory framework.
Speaking on enforcement, Chair Jensen discussed the number of tips received by the OSC’s recently launched Office of the Whistleblower. On the topic of investor protection, Chair Jensen highlighted the importance of moving forward with a best interest standard and a review of embedded mutual fund fees.
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