Order in Council 1720/2019

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas the Government of Ontario is committed to modernizing the regulatory framework for Ontario’s capital markets;

And whereas the Government of Ontario accordingly wishes to establish an expert taskforce to conduct a review of Ontario’s capital markets regulatory framework and to provide advice and recommendations to the Minister of Finance (the “Minister”);

Therefore, pursuant to the prerogative of Her Majesty the Queen in Right of Ontario to establish advisory bodies and to provide for the appointment of advisors to serve Her Majesty’s Government of Ontario in the discharge of its executive obligations and responsibilities,

Taskforce Established

1. The Securities Modernization Taskforce (the “Taskforce”) is hereby established as a short-term advisory body, accountable to the Minister for a period not exceeding twelve months from the date of this Order.

Terms of Reference

2. The Minister shall determine the terms of reference for the Taskforce and may amend them, as necessary, from time to time.

Appointments to the Taskforce

3. The Minister shall appoint up to six members to the Taskforce and shall designate one member as the Chair of the Taskforce.
4. The members of the Taskforce, including the Chair, shall serve at the Minister’s pleasure for a period not exceeding twelve months from the date of this Order.

Remuneration

5. The members of the Taskforce, including the Chair, shall not be paid any remuneration for their services as members of the Taskforce other than reimbursement for reasonable expenses incurred in accordance with applicable Management Board of Cabinet and Treasury Board directives, including the Travel, Meal and Hospitality Expenses Directive.