Ontario financial services superintendent resigns office

On the verge of the merger of the Financial Services Commission of Ontario (FSCO) with the Ontario Securities Commission (OSC) set to take place in the early fall of this year, former FSCO head Dina Palozzi has announced her early retirement. Early reports suggest that Palozzi has accepted the position of executive vice president, client relations, at BMO Nesbitt Burns. Palozzi has been superintendent of FSCO since its formation 1998. Her record with government service spans 28 years. Past posts included a stint as deputy minister of financial institutions, during which she was responsible for the merger of the province’s insurance, pension and deposit taking institution regulation under the FSCO banner. Palozzi is also chair of the Joint Forum of Financial Market Regulators and co-chair of the Canadian Council of Insurance Regulators.