A pair of new commissioners with connections to Premier Doug Ford’s Progressive Conservative Party have been appointed to Ontario’s top securities watchdog, a move that may raise eyebrows after a public disagreement last fall hinted at strained relations between the regulator and the province.
Zordel is a partner in the securities group at mid-sized law firm Gardiner Roberts LLP. She also sits on the board of Toronto Hydro and is serving a three-year term as a part-time member of the Condominium Authority of Ontario, which operates under the province’s Ministry of Government and Consumer Services.De Monte-Whelan ran as a Conservative candidate in 2011, losing the race in the Etobicoke-Centre riding.
Ford was elected Premier of Ontario last June and, within months, there were signs the OSC and the new government were not entirely aligned on policy. The OSC fee proposal, which came from a process initiated by the former Liberal government in Ontario, was backed by 12 other provincial and territorial securities regulators under the umbrella of the Canadian Securities Administrators.
“Both appointees applied and were reviewed by the Ontario Securities Commission’s Governance and Nominating Committee,” the spokesperson said in an emailed statement. “Further, both Ms. De Monte-Whelan and Ms. Zordel were approved through the all-party Standing Committee on Government Agencies.” Ford has faced questions over recent appointments of family friends and close associates linked the PC party.
New trough masters - same old PC gravy.
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