OSC announces appointment of new executive director

Sonny Randhawa will oversee 'critical OSC regulatory operations'

OSC announces appointment of new executive director

Grant Vingoe, the Chair and CEO of the Ontario Securities Commission (OSC), has announced the appointment of Sonny Randhawa as an acting Executive Director.

Randhawa will be overseeing and leading the OSC’s Investor Office, the Office of Economic Growth and Innovation, and the Office of the Chief Accountant, Regulatory Strategy and Research.

"In this newly created position, Sonny will oversee critical OSC regulatory operations, including investor education and outreach, regulatory strategy and research, financial reporting leadership, as well as efforts to facilitate financial innovation and modernize regulation," Vingoe said. "Sonny brings extensive experience working on the frontline of novel policy issues in collaboration with external stakeholders and other regulators in Canada and around the world. His knowledge and expertise will prove invaluable in preparing the OSC to take on an increasingly complex and diverse mandate and respond to accelerated change in the financial markets."

Sonny Randhawa most recently served as director of Corporate Finance managing the regulation of corporate issuers after holding progressively senior positions at the OSC since 2009. As director, he supervised work on numerous policy initiatives that included the short form prospectus framework, the national policy for income trusts and other indirect offerings, and multiple actions to modernize regulation in Ontario's capital markets. In addition, he successfully guided the OSC Corporate Finance Branch through several years that saw the highest optional volumes in over a decade.

 "As I assume this new role, I would like to thank the OSC's Corporate Finance Branch staff who have shown unwavering dedication and professionalism during a time of increased operational activity and uncertainty in the capital markets," said Mr. Randhawa. "I look forward to working with staff across the OSC as we move forward with efforts to modernize regulation and facilitate financial innovation while promoting safe, fair, efficient, and competitive capitals markets in Ontario."

Randhawa is a Chartered Professional Accountant, Chartered Accountant, and Certified Public Accountant (Illinois). He served as a senior manager at a multi-national accounting and advisory firm before joining the OSC.

Meanwhile, the OSC’s Executive Director Leslie Byberg will continue to oversee and lead the Compliance & Registrant Regulation, Corporate Finance, Derivatives, Investment Funds, and Structured Products, Market Regulation, and Enforcement units, as well as the Office of Mergers & Acquisitions.