CSA announces establishment of new Investor Advisory Panel


Montréal – The Canadian Securities Administrators (CSA) is pleased to announce the establishment of the CSA Investor Advisory Panel (CSA IAP), and the appointment of its first members.

As announced in 2021, the CSA IAP will provide meaningful insight into retail investors’ interests and support the CSA’s policy development, strengthening Canada’s capital markets while enhancing investor protection. It will also promote coordination and enhancement of pan-Canadian investor-related issues.

Panel members are appointed for staggered terms of either two or three years beginning on September 1, 2022, and their term is open for one renewal.

Members of the CSA IAP are:

  • Guy Lemoine - Chair, former President of the Quebec Financial Markets Administrative Tribunal (2003-2008) as well as former Vice-President and Commissioner of the Commission des valeurs mobilières du Québec (1990-2003). Mr. Lemoine is a private practice lawyer who has served on the boards of several organizations, including FAIR Canada, of which he was co-president between 2019 and 2021.
  • Cristie Ford, a Professor of Law at the Peter A. Allard School of Law, University of British Columbia, with a research focus on financial and securities regulation, administrative law, regulatory design, access to justice, and the relationship between innovation and regulation.
  • Eric Spink, a private practice lawyer with experience in a variety of roles, including law reformer, government official, securities regulator, and adjudicator. He served as a member of the Consumer and Investor Advisory Council of OBSI between 2013 and 2018.
  • Ryan Clements, an Assistant Professor, Chair of Business Law and Regulation at the University of Calgary, Faculty of Law. His research focuses on securities law, crypto assets, fintech, and investment funds. He previously served as a Senior Policy Advisor with the Alberta Securities Commission (ASC), and on IIROC’s crypto-asset working group. He currently serves on the ASC New Economy Advisory Committee.
  • Susan Milburn, a long-serving Saskatchewan financial advisor at Raymond James Ltd., and currently a member of IIROC’s Proficiency Committee, a national advisory committee reviewing and recommending proficiency requirements for industry participants.
  • Millie Acuna, the Manager, Asset Building Programs at SEED (Supporting Employment & Economic Development) in Winnipeg and a member of the FCAC Consumer Protection Advisory Committee.
  • Line Deslandes, an executive with 20 years of experience in the Financial Services and Capital Markets Industry. She held several high-ranking positions in the securities law sector in Quebec, United States, and England, including for State Street Global Advisors. She also consulted for the African Development Bank and the World Bank, and served on the board of FAIR Canada from 2019 to 2021.
  • Annick Kwetcheu Gamo, a specialist in financial education, financial coach, and the founder of the Quebec non-profit organization Code F., Santé financière pour tous! (Financial Health for all!) as well as the founderof Code F. Technologies financières inc., a social Fintech developing an AI-based solutions to improve citizens’ financial health.
  • Jason Alcorn, an Associate Professor at the Faculty of Law of Université de Moncton. He previously served as Senior Legal Counsel and Special Advisor at the Financial and Consumer Services Commission of New Brunswick.

To ensure appropriate interconnection between the CSA IAP and the Ontario Securities Commission’s Investor Advisory Panel (OSC IAP):

  • Neil Gross, Chair of the OSC IAP, is cross-appointed until he completes his term on the OSC IAP on October 31, 2022, after which he will remain a member of the CSA IAP. Mr. Gross is a former Executive Director of FAIR Canada and a lawyer with over 35 years’ experience focused on investor protection issues. He has served on the OSC IAP since 2017.
  • Brigitte Catellier, who joined the OSC IAP in 2021, will be cross-appointed as of November 1, 2022. Ms. Catellier is Associate Director of the Investor Protection Clinic at Osgoode Hall Law School, where she is an adjunct professor. She is a Fellow of the Chartered Governance Institute and Vice-President, Corporate Governance at Meridian Credit Union.

Ontario residents are encouraged to apply for membership on the OSC IAP through the OSC’s periodic application process.

“We are thrilled to have this group of highly qualified individuals join the CSA IAP,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission. “They have the extensive and diverse experience needed to bring an important perspective on investor protection in Canada. Their contributions will support the CSA in its long-standing commitment to provide beneficial regulatory outcomes for retail investors and will complement the work of existing investor panels and CSA member committees.”

In seeking panelists for the CSA IAP, the selection committee, which consists of CSA members’ senior officials, conducted a public selection process through a call for applications. Their recommendations of qualified candidates considered diversity, geographical location, expertise and experience to ensure broad and diverse representation of investors’ views. In particular, in assessing applicants, the selection committee looked for candidates with backgrounds focused on advancing public policy relating to the financial well-being of Canadians, advising investors, providing financial advice to households, and experience in market or academic research.

The CSA would like to extend a special acknowledgement to Kenmar Associates’ Ken Kivenko, who has diligently advocated for investors’ interests for many years, and whose advocacy work played a significant role and inspired the CSA’s decision to establish the Investor Advisory Panel.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For media inquiries, please contact:

Ilana Kelemen
Canadian Securities Administrators
[email protected]

For investor inquiries, please contact your local securities regulator This link will open in a new window.