OSC chair and CEO Maureen Jensen resigns

Industry veteran praised for leadership and integrity, says working for Commission ‘most meaningful’ time of her career

OSC chair and CEO Maureen Jensen resigns

Ontario Securities Commission (OSC) chair and chief executive officer Maureen Jensen has announced that she is resigning, effective April 15.

Jensen said: “It has been an honour to serve Ontario investors and market participants. These past nine years have been the most meaningful in my career. I have enjoyed every moment working alongside my respected colleagues and leadership team, and contributing to Ontario’s vibrant, healthy and internationally recognized capital markets.”

She added: “The OSC is well on its way to becoming a more modern regulator, committed to continuously improving how we regulate. This would not have been possible without Minister of Finance [Rod] Phillips and the Ontario Government’s full support of our important work on burden reduction.

“I am grateful to have served in an esteemed position held by a long line of capable, gifted people. I leave with a tremendous sense of pride in an organization well-positioned for the future.”

Jensen is the first woman to serve as chair and CEO of the OSC. She was initially appointed in 2016 and reappointed to a three-year extension in 2017. She joined the OSC as its executive director in 2011 and, prior to that was senior vice president of surveillance and compliance at the Investment Industry Regulatory Organization of Canada. She was previously the CEO of Market Regulation Services Inc. and was a director of the Toronto Stock Exchange.

Under her leadership, the OSC finalized Client Focused Reforms, which establish a higher level of investor protection. It launched a successful whistleblower program, which has paid out awards of $7.5 million and continues to receive increasingly high-quality tips. Most recently, the OSC announced 107 regulatory changes to reduce burden for market participants while maintaining critical investor protections.

OSC lead director Lawrence Haber thanked Jensen for her professionalism and public service. “Maureen is an exceptional leader who has demonstrated integrity and dedication. She cares deeply about this agency and Ontario’s investors and capital markets, and leaves behind a strong legacy that will endure.”

Jensen is a Registered Professional Geoscientist (P.Geo) and holds the ICD.D designation. She spent 20 years in the mining industry, holding both executive and technical management positions with several resource companies. She received an honorary Doctor of Laws degree from the University of Windsor in 2019, was twice named one of “Toronto’s 50 Most Influential” by Toronto Life, and has been named one of “Canada’s Most Powerful Women” by the Women’s Executive Network.

OSC vice-chair Grant Vingoe has been appointed acting chair effective April 15.