Order in Council 812/2022

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:

Pursuant to section 13(2) of the Securities Commission Act, 2021,

Chief Executive Officer’s remuneration

1. The Chief Executive Officer of the Ontario Securities Commission (the “Commission”) shall be paid an annual base salary of $562,800 for the term of their appointment.
2. The Chief Executive Officer shall be eligible, for the term of their appointment, to be paid in each year, an annual performance incentive in the form of a lump sum payment amount not to exceed 25% of their annual salary in accordance with measures established by the board of directors of the Commission and subject to any statutory requirements or limitations.

Expenses

3. The Chief Executive Officer shall be reimbursed for reasonable work-related expenses incurred while engaged in the business of the Commission in accordance with the Travel, Meal and Hospitality Expenses Directive and any other Treasury Board and Management Board of Cabinet directives.

Benefits

4. The Chief Executive Officer shall participate in the benefit plan generally made available to senior management at the Commission.

Vacation

5. The Chief Executive Officer shall be eligible to such paid vacation as is generally available to senior management at the Commission.

And pursuant to section 15 of the Securities Commission Act, 2021 and subsection 2(3) of the Public Service Pension Plan set out in Schedule 1, as amended, to the Public Service Pension Act, the Chief Executive Officer is, for the term of their appointment, designated and entitled to be a member of the Public Service Pension Plan.

This Order shall come into effect on the later of the date that subsection 13(2) of Schedule 9 of the Protecting the People of Ontario Act (Budget Measures), 2021 is proclaimed into force and the date that this Order is made.