Alberta has tapped a lawyer and former regulator, Stan Magidson, as the next head of the Alberta Securities Commission (ASC).

The provincial government announced on Tuesday that Magidson will take over as chairman and CEO of the ASC starting in July.

Magidson was formerly a partner with Osler, Hoskin & Harcourt LLP in both Toronto and Calgary. During that time, he was seconded to the Ontario Securities Commission (OSC) as director of its mergers and acquisitions branch from 1999 to 2000, and from 2002 to 2008, he chaired the ASC’s securities advisory committee. In 2010, he joined the Institute of Corporate Directors (ICD) as that organization’s president and CEO.

“Mr. Magidson is well suited to address the ASC’s priorities, and will provide strong and effective leadership, working in concert with the Alberta government to further strengthen our existing securities regulatory system here in Alberta and across Canada,” says Alberta Finance Minister Joe Ceci, in a statement announcing the appointment.

“Having previously served as chair of the advisory committee, I am keenly aware of the challenges and opportunities in Alberta’s unique capital market system and look forward to working with the commission, the staff team and our colleagues in the Canadian Securities Administrators to ensure Alberta and Canada’s capital markets are best of class,” adds Magidson.

In announcing Madison’s appointment, Ceci also said the New Democrat government will maintain the province’s opposition to the proposed national securities regulator, adding the size and scope of the province’s energy sector makes Alberta “unique.”

See: Alberta NDP government rejects proposed national securities regulator

The previous head of the ASC, Bill Rice, retired in September 2015, after 10 years on the job. The regulator’s interim chairman since Rice’s departure, Tom Cotter, will return to his post as vice-chairman once Magidson takes up his new role.

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