N.B. Lawyer Appointed to New Capital Markets Regulatory Authority Board
SAINT JOHN – Port City lawyer Peter Klohn will sit on the board of directors of the newly formed Capital Markets Regulatory Authority.
The ministers responsible for capital markets regulation in New Brunswick, British Columbia, Ontario, Saskatchewan, Prince Edward Island and Yukon, as well as the federal finance minister, have chosen the Capital Markets Regulatory Authority’s initial board of directors and set new timelines for implementation.
Once created, the authority will be the single regulator administering the proposed uniform provincial-territorial Capital Markets Act and complementary federal Capital Markets Stability Act. When passed, these acts would form the legislative cornerstones of the new Cooperative Capital Markets Regulatory System.
Klohn is currently the independent chair of the Financial and Consumer Services Commission of New Brunswick. As a consultant to the Government of New Brunswick, he provided recommendations for new securities legislation which resulted in the creation of the New Brunswick Securities Commission in 2004.
He sits on the board with 14 other members:
William Black, chair;
- Andrea Bolger
- Joan Dunne
- Garth Girvan
- Rory Godinho
- Nancy Hopkins
- Douglas Knight
- Jill Leversage
- Harold MacKay
- John McCoach
- Jean-Pierre Ouellet
- Vicky Sharpe
- Eric Tripp
- Howard Wetston.
The members bring a range of relevant capital markets knowledge and expertise and were selected by the ministers following a rigorous process led by an independent nominating committee. Pending the creation of the authority, they will serve as the board of directors for the Capital Markets Authority Implementation Organization, which will assist in the transition to and implementation of the authority.