The Ontario Securities Commission (OSC) has appointed former Ontario auditor general Bonnie Lysyk and former OSC secretary Josée Turcotte to its executive leadership team.
Lysyk joined the OSC as executive vice-president of enforcement on Monday, filling the vacancy left by Jeff Kehoe in February.
Prior to serving as Ontario’s auditor general, Lysyk was the provincial auditor of Saskatchewan and the deputy auditor general and chief operating officer of Manitoba.
Lysyk has “in-depth audit, finance, risk management, forensic, regulatory and governance knowledge and experience important to investigating capital markets misconduct and enforcing Ontario securities law,” the OSC said in a release.
As Ontario’s auditor general, Lysyk issued a special report last year concluding that lands removed from the province’s Greenbelt in December 2022 weren’t chosen using an objective, transparent selection process but rather one that favoured selected land developers.
Turcotte is set to join the OSC as the regulator’s chief operating officer and chief of staff on Oct. 15. She has executive management experience in the financial sector, most recently as the executive director, emerging risk operations directorate with the Office of the Superintendent of Financial Institutions.
Prior to that, Turcotte served as chief legal officer of the Alcohol and Gaming Commission of Ontario; senior vice-president, corporate secretary and head of governance with HSBC Bank Canada; and as secretary to the OSC.
Both Lysyk and Turcotte will report to Grant Vingoe, CEO of the OSC.
With these appointments, Leslie Byberg, who briefly oversaw the OSC’s enforcement division in addition to her permanent role as executive vice-president, strategic regulation, will return to her dedicated permanent position full time.