New Member Appointed to the Board of Directors of the Capital Markets Authority Implementation Organization

The ministers responsible for capital markets regulation in British Columbia, Ontario, Saskatchewan, New Brunswick, Prince Edward Island and Yukon, and the Minister of Finance of Canada, are pleased to announce the selection of Mary Condon as an initial director of the proposed Capital Markets Regulatory Authority (Authority). Pending its establishment, Ms. Condon has been appointed to the Board of Directors of the Capital Markets Authority Implementation Organization (CMAIO).

Ms. Condon is a distinguished academic and regulator with over 25 years of experience in securities law. She will provide a valuable perspective on investor protection and enforcement issues, and further strengthen the diversity of the Board of Directors. Ms. Condon replaces Howard Wetston, who resigned from the CMAIO Board in fall 2016 when he was appointed to the Senate of Canada.

“We are excited to welcome Mary Condon to CMAIO’s Board,” William A. Black, Chair of the CMAIO Board of Directors, said. “She has an outstanding reputation as a scholar in the field of securities law with significant regulatory experience.”

“I am pleased to participate in the development of the new cooperative securities regulator, which will bring new tools and legislation to bear in delivering on its mandate of protecting investors, fostering fair, efficient and competitive capital markets, and contributing to the stability and integrity of the Canadian financial system,” Ms. Condon said.

CMAIO was established as an interim entity to assist in the transition to and implementation of the Authority as part of the new Cooperative Capital Markets Regulatory System. Subject to legislative approval and enactment, the Authority would be the single securities regulator for participating jurisdictions. When passed, the proposed uniform provincial-territorial Capital Markets Acts and the complementary proposed federal Capital Markets Stability Act would form the cornerstone legislation of the new CCMR System.

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Mary Condon is a Professor at Osgoode Hall Law School. She joined the Osgoode faculty in 1992 and was appointed Associate Dean (Academic) in July 2016. She will assume the role of Interim Dean of Osgoode Hall Law School on May 1, 2018.

Between 2008 and 2016, Professor Condon was a Commissioner of the Ontario Securities Commission (OSC). For three of those years (2011-2014) she served as one of two full-time vice-chairs of the OSC. In that capacity she was executive sponsor of a number of policy initiatives. She also issued numerous adjudicative decisions as a member of OSC hearing panels.

For Media Inquiries only:

Scott Blodgett, Ontario Ministry of Finance

Jessica Martin, Ontario Minister’s Office

Sonja Zoeller, B.C. Ministry of Finance

Shannon McMillan, Financial and Consumer Affairs Authority of Saskatchewan

Sarah Bustard, N.B. Dept. of Finance

Bonnie Venton Ross, Community Services, Government of Yukon

Katie MacDonald, P.E.I. Justice and Public Safety
902-314-3996 Media Relations Department of Finance Canada 613-369-4000

Frank Switzer, Capital Markets Authority Implementation Organization

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