The Ontario Securities Commission (OSC) today announced two additions to its Executive Leadership Team. Bonnie Lysyk joins as Executive Vice President, Enforcement (EVP, Enforcement) as of October 7, 2024, and Josée Turcotte as EVP, Chief Operating Officer (COO) and Chief of Staff as of October 15, 2024. Both individuals will report to OSC Chief Executive Officer (CEO), Grant Vingoe, and bring a wealth of expertise and experience that will be critical to the OSC in delivering on its new Strategic Plan in the coming years.
Ms. Lysyk and Ms. Turcotte join the OSC’s experienced executive leadership team consisting of Sonny Randhawa (EVP, Regulatory Operations), Leslie Byberg (EVP, Strategic Regulation), Naizam Kanji (General Counsel, EVP Legal), and Grant Vingoe (CEO).
Bonnie Lysyk - EVP, Enforcement:
As EVP, Enforcement, Ms. Lysyk will be responsible for delivering the regulatory deterrent for capital markets misconduct. As the former Auditor General of Ontario, Ms. Lysyk is one of the most well-known and respected senior auditors in Canada. She has extensive experience leading professional, multi-disciplinary organizations and possesses in-depth audit, finance, risk management, forensic, regulatory, and governance knowledge and experience important to investigating capital markets misconduct and enforcing Ontario securities law.
Ms. Lysyk has held senior positions in both the private and public sectors during a 35-year career spent in three provinces. Prior to serving as the Auditor General of Ontario, she served as the Provincial Auditor of Saskatchewan and as the Deputy Auditor General and Chief Operating Officer in Manitoba.
“As EVP, Enforcement, Bonnie is well-positioned to take decisive action against those seeking to harm Ontario’s investors,” said OSC CEO Grant Vingoe. “She joins, and leads, an impressive group of professionals in our Enforcement Division – united by a passion to protect investors and the integrity of our capital markets. The OSC Enforcement Division’s operations are fundamental to delivering on our mandate and our Strategic Plan.”
Josée Turcotte - EVP, COO and Chief of Staff:
As EVP, COO and Chief of Staff, Ms. Turcotte will be responsible for managing and directing the business operations of the OSC. In this role, she will ensure that resource allocation, infrastructure and corporate programs are sustainable and support the operational achievement of the OSC’s mandate and goals. Ms. Turcotte will implement the CEO’s directives to promote coordinated and effective implementation of executive decisions and provide strategic counsel and advice to the CEO. She will oversee business strategy and corporate performance, human resources, strategic project management, information services and digital solutions, and information security. She will also serve as executive sponsor for selected key OSC, CSA and international projects.
Ms. Turcotte is a respected leader with extensive executive management experience in the financial sector, most recently as Executive Director, Emerging Risk Operations Directorate at the Office of the Superintendent of Financial Institutions. Prior to that, she was Chief Legal Officer of the Alcohol and Gaming Commission of Ontario. Ms. Turcotte has also served as the Senior Vice-President, Corporate Secretary, and Head of Governance at the HSBC Bank Canada, and as Secretary to the OSC.
“Josée brings a wealth of regulatory knowledge, experience and strategic acumen and is a skilled leader of diverse teams in the private and public sector. She has expertly managed major changes in operations with a focus on strengthening organizational culture. Her strategic regulatory, legal and organizational advice will be critical as we embark on our ambitious plan to make Ontario’s capital markets inviting, thriving and secure,” said OSC CEO Grant Vingoe.
Leslie Byberg:
While the search for a new EVP, Enforcement was underway, Leslie Byberg oversaw the OSC’s Enforcement Division in addition to her permanent role as EVP, Strategic Regulation. With Bonnie Lysyk now in place, Ms. Byberg will return to her dedicated role as EVP, Strategic Regulation. In this capacity, Ms. Byberg is responsible for the oversight of regulatory functions of thought leadership, regulatory and economic research, sustainable finance, investor experience, and economic growth and innovation.
“I want to thank Leslie for her interim leadership of the Enforcement Division where she provided effective and continued oversight of this critical regulatory function,” concluded CEO Vingoe.
Background:
Originally from Winnipeg, Bonnie Lysyk was Auditor General of Ontario from 2013 to 2023. Over her 35-year career, she has worked in both public and private sectors, across three Canadian provinces and has held senior positions in a number of sectors including crown corporations, utilities, and financial services. In 2017, Ms. Lysyk was named a Fellow of the Chartered Professional Accountants (CPA) of Ontario – recognizing those that have rendered exceptional service to their profession and their communities. In 2020, she received the Goodman School of Business Distinguished Leader Award. In 2023, Ms. Lysyk was named in the top 10 of Toronto Life’s Most Influential Listing of Torontonians and was appointed a Senior Fellow with the C.D. Howe Institute. Ms. Lysyk has an MBA and holds the ICD.D designation issued by the Institute of Corporate Directors. She recently served on the Board of the Ombudsman for Banking Services and Investments.
Josée Turcotte is a highly experienced business executive, with extensive governmental and private sector experience, including previous service with the OSC in increasingly senior roles, culminating as Secretary to the Commission. Prior to this, Ms. Turcotte was Secretary and Head of Governance of HSBC Bank Canada, Chief Legal Officer of the Alcohol and Gaming Commission of Ontario, and most recently as the Executive Director, Emerging Risks Directorate of the Office of the Superintendent of Financial Institutions (OSFI). At OSFI, she managed all non-financial risks and the development of OSFI’s regulatory response, including climate risk, digital innovation risk, technology & cyber security, operational third-party risk, culture and compliance risk, and integrity & security and foreign interference. Ms. Turcotte holds a Master of Laws degree (LL.M.) in business law from Osgoode Hall Law School, a Civil Law degree with honours (LL.L.), a Juris Doctor degree with honours (J.D.) from the University of Ottawa, and an ICD.D designation from the Institute of Corporate Directors. She is a member of both the Ontario and Quebec bars.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.
