Chief Executive Officer and Ontario Securities Commission
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 CHIEF EXECUTIVE OFFICER OF POSITIONS FOR THE PURPOSES OF THE DEFINITION OF DIRECTOR IN THE ACT AND IN THE MATTER OF THE DELEGATION OF CERTAIN POWERS AND DUTIES OF THE ONTARIO SECURITIES COMMISSION (the "Commission")
Chief Executive Officer's Designation and Determination
A. Effective upon the proclamation of the Securities Commission Act, 2021, the Commission issued a delegation (the 2022 Delegation) pursuant to subsection 3(1) of the Act, delegating 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 Chief Executive Officer of the Commission, 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 Chief Executive Officer.
C. The 2022 Delegation provides that the Chief Executive Officer 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 delegated by the Commission in paragraph 2 of the 2022 Delegation, each of which powers may also be exercised and performed by the Chief Executive Officer, acting alone.
NOW THEREFORE, the Chief Executive Officer:
1. 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 in the Corporate Finance Branch of the Commission,
b. each Manager in the Commission's Office of Mergers and Acquisitions,
c. each Manager and Registration Supervisor in the Compliance and Registrant Regulation Branch of the Commission,
d. each Manager in the Market Regulation Branch of the Commission,
e. each Manager in the Enforcement Branch of the Commission,
f. each Manager in the Investment Funds and Structured Products Branch of the Commission,
g. each Manager in the Derivatives Branch of the Commission,
h. each Manager in the Commission's Office of Economic Growth and Innovation;
i. the Chief Accountant and the Associate Chief Accountant of the Commission, and
j. the General Counsel of the Commission;
2. designates the Business Processes Supervisor 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
3. determines that, in addition to the Chief Executive Officer acting alone, each Director, other than the Business Processes Supervisor in the Corporate Finance Branch of the Commission, may exercise the powers and perform the duties assigned by the Commission to Directors in the 2022 Delegation and any successor assignment in effect from time to time, until otherwise determined by the Chief Executive Officer.
DATED at Toronto this 29th day of April, 2022.