The Commission comprises five members: the Chair, John Solursh, a Vice-Chair, Anne Corbett and Florence A. Holden; the Director of Arbitrations, Asfaw Seife; and the Superintendent of Financial Services. The Superintendent is also the CEO of FSCO. The Chair and Vice-Chairs of the Commission are also the Chair and Vice-Chairs of the Tribunal.
The purposes of the Commission are set out in the FSCO Act:
- to provide regulatory services that protect the public interest and enhance public confidence in the regulated sectors;
- make recommendations to the Minister of Finance (Minister) about the regulated sectors;
- provide resources necessary for the proper functioning of the Tribunal.
It is also charged with some statutory responsibilities:
- recommend to the Minister and the Lieutenant Governor-in-Council fees and assessments to cover regulatory costs;
- establish conflict of interest guidelines for the Commission and Tribunal members and FSCO staff;
- publish and deliver to the Minister an annual statement of priorities of FSCO, and provide an annual report.
Commission Members
Chair
Mr. John Solursh was appointed Chair of the Commission and of the Financial Services Tribunal on August 9, 2007, after serving as Vice-Chair of the Commission and the Financial Services Tribunal since February 25, 2005. Mr. Solursh is a partner with Blake, Cassels & Graydon LLP. He is a former chair of the firm's Executive Committee, a former Managing Partner of the firm, and is partner-in-charge of the firm's Pension and Employee Benefits Group. He holds an LL.B. from the University of Toronto.
Mr. Solursh is a former co-chair of the International Bar Association's sub-committee on Employee Benefits & Pensions, a Past Chair of the Executive of the Canadian Bar Association (Ontario) Pension and Benefits Section, a former member of the Legal Advisory Committee to the Pension Commission of Ontario, and a former member of the Executive of the International Pension and Employee Benefits Lawyers Association. Mr. Solursh was appointed a member to the Financial Services Tribunal on August 11, 2004.
Vice-Chair
Ms. Anne Corbett was appointed Vice-Chair of the Commission and the Financial Services Tribunal on August 11, 2004. Ms. Corbett is a partner with Borden Ladner Gervais LLP, practicing as a corporate commercial lawyer with special emphasis on pension law and hospital law. Ms. Corbett holds a B.A. from the University of Windsor and an LL.B. from the University of Toronto. Ms. Corbett was appointed a member to the Financial Services Tribunal on June 20, 2001.
Ms. Florence A. Holden was appointed Vice-Chair (acting) of the Board and the Financial Services Tribunal on October 2, 2007. Ms. Holden is a Principal in the human resources consulting firm of Towers Perrin Inc. She specializes in providing advice on the design, implementation and documentation of retirement plans and funds including advice on governance, administration and compliance matters. Ms. Holden holds a Bachelor of Business Administration (Honours) from York University and an LL.B. from Osgoode Hall Law School.
Ms. Holden was previously the Chair of the Executive of the Ontario Bar Association’s Pension and Benefits Section and is a frequent speaker within the pension industry. Ms. Holden was appointed a member to the Financial Services Tribunal on August 11, 2004.
CEO and Superintendent
Dr. Bob Christie was appointed as the new Chief Executive Officer and Superintendent of Financial Services for the Financial Services Commission of Ontario on September 6, 2005.
Financial Services Commission of Ontario