Securities: an Albertan will succeed Louis Morisset on July 1

The CEO ofFinancial Markets Authority, Louis Morissetwill soon complete his term as President of the Canadian Securities Administrators (ACVM). His successor from Alberta will take office on July 1, 2022.

Stan MagidsonCEO of theAlberta Securities Commission (ASC), was appointed for a three-year term.

Prior to joining ASC in July 2016, Stan Magidson was President and CEO of theInstitute of Corporate Directors and president of Global Network of Director Institutes. He previously worked for 21 years in a law firm where he advised clients made up of issuers, investors, financial intermediaries and boards of directors in matters of securities law, corporate finance, mergers and acquisitions as well as corporate governance.

Otherwise, David CheopCEO of the Manitoba Securities Commission, is appointed as Vice-Chair of the CSA for a three-year term. Mr. Cheop succeeds Kevin HoytCEO of the New Brunswick Financial and Consumer Services Commission.

The CSA finally confirm that the mandate of Grant Vingoe as Chairman of the Regulatory Coordination Committee was renewed for three years. Mr. Vingoe is Chief of Ontario Securities Commission.

More than seven years

In its press release, the AMF recalls that Mr. Morisset has held the presidency of the CSA since April 2015. He remains involved in the organization because of his duties within the AMF.

During his more than seven-year tenure as President, he was involved in several regulatory reforms relating to investor protection, including:

As part of its 2016-2019 business plan, the CSA revised the requirements, particularly with respect to disclosure, with a view to reducing the regulatory burden on reporting issuers. Several changes have been made as part of the current business plan, including 9 of the 10 regulatory burden reduction projects that have already been completed.

Last year, Mr. Morisset’s mandate was renewed for one year precisely to enable him to carry out the work provided for in this business plan.

Mr. Morisset says he is “delighted” to have been involved in protecting investors and maintaining confidence in Canada’s capital markets. He cites the challenges imposed by the COVID-19 pandemic, the rapid transformation of the industry and the changing needs of investors.

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