Provincial regulator CEO steps down

Mark White, CEO of the Financial Services Regulator of Ontario (FSRA), will step down from his role, effective July 16, following his appointment as chair of the Ontario Energy Board. 

“[FSRA’s board] thanks [White] for his vision, integrity, and determination in leading FSRA from its launch in 2019 to where it is today, a regulator that continually delivers on its mandate with a principles-based and outcomes lens,” a statement from the organization reads. 

White held several senior positions at the Bank of Montreal before joining FSRA in 2018. Prior to BMO, he was the assistant superintendent and head of the regulation sector at the Office of the Superintendent of Financial Institutions (OSFI).  

Stephen Power (pictured above) will step in as FSRA’s interim CEO while the regulator searches for a permanent successor. Power is currently executive vice president of corporate services at FSRA. 

Joanne De Laurentiis, the chair of FSRA’s board of directors, extended her term for one year to assist the organization through its CEO transition.  

“The Board and the executive team are committed to maintaining FSRA’s momentum and ensuring that operations continue to move forward uninterrupted,” a release from FSRA reads.