The Ontario Securities Commission (OSC) is the statutory body responsible for regulating Ontario’s capital markets in accordance with the mandate established in the provincial Securities Act and the Commodity Futures Act. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. This mandate is performed through policy, operational, and enforcement activities. The OSC also contributes to national and global securities regulation development.

Reporting to the Head of Business Support, the Regulatory Advisor, Legal Counsel II will draw upon legal and/or operational experience to support firms seeking help from the team in navigating the OSC’s and Canadian Securities Administrators (CSA) regulatory framework and/or the opportunity to test their products, services and applications in Ontario’s capital markets. As the Regulatory Advisor, Legal Counsel II, you will be responsible for working with firms to understand their business models and helping develop practical regulatory solutions through the application of fundamental principles of securities regulation to their novel business.

This role requires a high-level of intellectual curiosity about emerging areas within capital markets, as well as a willingness to continually learn and apply both legal and business expertise to help find solutions to problems affecting the oversight and regulatory framework of novel business models. It is an excellent opportunity for someone looking for creative, challenging, and innovative work in the securities industry.

What you will be doing:

Providing support to businesses through OSC LaunchPad and OSC TestLab

• Engage with businesses submitting requests for support through OSC
• LaunchPad ensuring appropriate review of applications and determining appropriate next steps including analyzing regulatory frameworks to ensure that appropriate investor protections and safeguards are considered at all stages.
• Collaborate with businesses to understand their product or service offerings, considers issues in the context of applications from novel businesses and consults with other OSC subject matter experts, as needed, to identify solutions, including potential risks, and taking into consideration the mandate of the Commission and external business needs.
• Conducts legal analysis of novel issues and recommend opportunities to support responsible capital markets innovation including through testing, exemptive relief and other flexible regulatory approaches, taking into consideration the need to balance business needs with regulatory objectives and investor protection.
• Provide support in development of guidance and education on OSC regulatory
• environment, policies, and practices, ensuring new businesses understand legal and regulatory requirements and how to best navigate the regulatory framework regarding prospectus, registration, compliance, and potential marketplace issues.
• Must understand and appropriately address the impact of novel regulatory approaches on capital markets.

Committees and Policy

• Support and, in some cases, lead the development and execution of policy initiatives, facilitating internal/external collaborations, providing legal expertise, advice, and insights, managing project deliverables, timelines, and expectations, resolving issues, and preparing status reports as required.
• Advocate for OSC views and work with other team members to
• negotiate effectively with CSA, government and stakeholder and reach a resolution on contentious issues.
• Keep abreast of and inform team members, Management and Executives of recent developments and emerging trends (domestically and internationally) that may impact innovative businesses and Ontario’s capital markets, including identification of potential policy development initiatives, ensuring new technologies/polices developed continue to meet regulatory expectations and ensuring investors are protected.
• With other team members, serve as an OSC representative on CSA Financial Innovation Hub (CSA FinHub) working groups.

Relationship Management and Engagement with Innovation Ecosystem

• Develop strong collaborative relationships with external stakeholders, proactively engaging with the innovation community, and provide guidance around securities regulations and impacts to business model development.
• Develop relationships with stakeholders across the organization; including other OSC staff and management, to understand activities and concerns, provide advice and guidance, collaborate on files, and identify opportunities to challenge established approaches/practices.

What you will bring:

• Post-graduate education in Law and LLB/JD designation in Canada
• Minimum 4-5 years post call to the Bar with experience gained in a law firm and/or regulatory role within the securities industry, including significant in-depth experience in securities regulation.
• Keen interest in emerging developments within capital markets and how technology can provide solutions for financial services and investors.
• Operational experience in a start-up or other innovative business would be a strong asset.
• A demonstrated ability to make sound, practical business recommendations.
• Commitment to building positive working relationships and engaging with internal and external stakeholders.
• Excellent ability to communicate (verbal and written) ideas clearly and concisely, including when delivering presentations and responding to questions.
• Self-motivated individual who can work in an agile team environment with minimal direction, prioritize multiple projects, assist others, and perform at a high level under pressure.

What we offer:

• Competitive compensation package which includes performance-based incentives and a premier pension plan
• Generous vacation and personal time entitlements
• Best in class comprehensive health and wellness benefit package which includes gym membership discounts with Goodlife Fitness
• Tuition reimbursement program
• Training and development programs
• Flexible hybrid work environment (3 days in office each week at 20 Queen Street West).

* OSC Employees: please apply in Workday using the Browse Jobs feature within your Jobs Hub *

We thank all applicants for their interest in the Ontario Securities Commission. We will contact those selected for an interview.

The OSC is committed to diversity and providing an inclusive workplace and providing accommodation in accordance with the Accessibility for Ontarians with Disabilities Act and the Human Rights Code. It is our priority to ensure employment opportunities are visible and barrier-free to all under-represented groups including but not limited to, Indigenous, Black and racialized groups, people with disabilities, women and people from the 2SLGBTQI+ community, to achieve an employee demographic profile reflective of the demographic profile of Ontarians.

The OSC is a proud partner with the following organizations: Ascend Canada, BlackNorth Initiative, Canadian Centre for Diversity and Inclusion, and Pride at Work Canada

If you require an accommodation during the recruitment process, please let us know by contacting our confidential inbox HRRecruitment@osc.gov.on.ca.

Visit Accessibility at the OSC to review the OSC’s policies on accessibility and accommodation in the workplace.