FSRA Exchange Event 2022

2022 FSRA Exchange Event

Register Today!

Registration is now open for the Financial Services Regulatory Authority of Ontario (FSRA’s) inaugural 2022 FSRA Exchange event being held virtually on January 27, 2022.

Special speakers include:  The Honourable Peter Bethlenfalvy, Minister of Finance; FSRA’s Board Chair, Joanne De Laurentiis; and FSRA’s CEO, Mark White. This half-day virtual event will discuss FSRA’s approach to regulation and how it can positively impact financial services in Ontario.

What: 2022 FSRA Exchange

Where: Virtual/Online

When: January 27, 2022 – 8:45 a.m. – 12:10 p.m.

Fee:

  • Industry Registrants - $25
  • Consumers – Free

Please see below for the detailed agenda and list of speakers.

Agenda

Time

Session

8:45 a.m.

Welcome

  • Glen Padassery (See bio), Executive Vice-President, Policy & Chief Consumer Officer, Financial Services Regulatory Authority of Ontario

8:55 a.m.

The future of financial services regulation, innovation and public interest - Fireside Chat

  • Mark White (See bio), CEO, Financial Services Regulatory Authority of Ontario
  • Moderated by: Clare O'Hara (See bio), The Globe and Mail, Wealth Management Reporter

9:50 a.m.

Break

10:00 a.m.

Principles-Based Regulation – Panel Discussion

  • Stephen A. Fuller (See bio), Head of International Government Affairs, Senior Vice President, TCI Global, The Travelers Companies Inc.
  • Dr. Cristie Ford (See bio), Professor, Allard School of Law, University of British Columbia
  • Simon Archer (See bio), Partner, Goldblatt Partners LLP
  • Moderated by: Jordan Solway (See bio), Executive Vice President, Legal & Enforcement, Financial Services Regulatory Authority of Ontario

10:50 a.m.     

 Break

11:00 a.m.

Innovation Discussion

  • Layial El-Hadi (See bio), Executive Director, Fintech Cadence
  • Elvis Wong (See bio), Director of Financial Health, Fintech Cadence
  • Moderated by: Marlena Labieniec (See bio), Director of Innovation, Financial Services Regulatory Authority of Ontario

11:35 a.m.

Chair’s Remarks

  • Joanne De Laurentiis (See bio), Chair of the Board

11:50 a.m.

Ontario Minister of Finance Remarks

  • Hon. Peter Bethlenfalvy (See bio), Minister of Finance, Ontario

12:00 p.m.

Closing Remarks

  • Mark White (See bio), CEO, Financial Services Regulatory Authority of Ontario

Speakers

Welcome

Glen Padassery

Executive Vice President, Policy & Chief Consumer Officer, Financial Services Regulatory Authority of Ontario

Glen Padassery is an astute and highly respected senior executive who is responsible for championing the public interest, supporting innovation in the regulated sectors and driving continuous improvement across FSRA through the policy function. He leads the rule-making function within FSRA, and works with colleagues to build the analytics capacity and environmental awareness to develop and implement the agency’s evidence-based regulatory framework. He is also FSRA’s primary liaison with the Ministry of Finance and external regulatory stakeholders.

Glen has extensive policy and consumer protection expertise and experience in the public sector, formerly as Assistant Deputy Minister of Consumer Protection Ontario with the Ministry of Government and Consumer Services. Throughout his career, he has held senior leadership roles with several provincial ministries where his responsibilities spanned the policy spectrum – from provincial policy and execution to overseeing administration of consumer protection and public safety legislation, to leading consultations and policy recommendations.

Glen holds a Bachelor of Arts from the University of Toronto. Glen also holds the C.Dir designation from the Directors College at the DeGroote School of Business.

 

The future of financial services regulation, innovation and public interest - Fireside Chat

Mark White

Mark White

CEO, Financial Services Regulatory Authority of Ontario

Mr. White is an accomplished and experienced leader and executive in the regulatory and financial sectors, with a passion for excellence and focused execution and a keen interest in understanding and meeting the needs of multiple stakeholders. With a strong background in regulation, risk management, governance, law, finance, change management and process improvement and oversight, Mr. White is uniquely positioned to drive the modernization and transformation of financial services regulation in Ontario, and to help ensure people in Ontario receive financial services which meet their needs, while balancing private and public sector objectives.

Before joining FSRA in May 2018, Mr. White held a number of senior executive positions at the Bank of Montreal. Most recently, as BMO’s Senior Vice President & Head Enterprise Risk, he had overall enterprise accountability for the design and implementation of the bank's risk management tools, methodologies and frameworks; for oversight of and reporting on the bank's risk management activities; and for governance and oversight of risk management functions, including the identification of top and emerging risks, the development and execution of qualitative and quantitative risk management techniques, the design and implementation of risk management systems and processes, and the provision of effective challenge over operational risks such as event, cyber, information and technology risk. He also served as BMO’s Senior Vice President responsible for strategic and technical leadership on capital adequacy, balance sheet efficiency, regulatory rules and capital issuances, frequently liaising with regulators and rating agencies.

Prior to BMO, Mark served as the Assistant Superintendent, Head of Regulation Sector at Canada’s bank and insurance regulator, the Office of the Superintendent of Financial Institutions (OSFI). As a member of the four-person OSFI Executive, he was the leader of a team responsible for OSFI’s approvals, policy-making, policy interpretation, legal services, capital/risk/solvency, research, accounting, pension oversight and actuarial policy functions. He led OSFI’s policy development during the global financial crisis - domestically working with various industry associations and leading companies, and with the Bank of Canada, the federal Ministry of Finance, the Canada Deposit Insurance Corporation and securities regulators - and internationally, with various industry groups and regulatory and rule-making bodies. In particular, Mr. White was OSFI’s representative on the Basel Committee for Banking Supervision during the Basel III process and chaired the Basel Committee’s Risk Measurement Group, leading reforms dealing with counterparty credit risk from capital markets instruments and exposures.

After business and law school and gaining experience in accountancy, Mr. White began his career at Fasken Martineau DuMoulin in 1987 as a business law lawyer, primarily focused on financial services. In 1992, he became Senior Vice President, Legal Director and Chief Counsel at the AT&T Capital consumer and commercial technology finance business, initially in Canada and later in Europe based in London England, where he led legal teams focused on regulatory compliance and transaction support. In 1997, he moved to Ernst & Young LLP/Donahue Ernst & Young, Barristers and Solicitors, where his practice focused on domestic and international financial services and transactions, and he became an equity partner and a member of the legal practice management committee. In 2001 he joined RBC Capital Markets, where he was Managing Director and Global Head of the Strategic Transactions Group, a successful and innovative structured finance business active in international capital markets and transactions.

Clare Ohara

Clare O’Hara

Wealth Management Reporter, The Globe and Mail

Clare O’Hara is a business reporter at The Globe and Mail where she covers the wealth management and insurance industry. Prior to that, Clare was a staff writer at Investment Executive, a national newspaper for financial service industry professionals. She has an undergraduate degree in media information from University of Western Ontario and a journalism degree from the University of King’s College in Halifax

 

 

Principles-Based Regulation Panel

Stephen A. Fuller

Stephen A. Fuller

Head of International Government Affairs, Senior Vice President, TCI Global, The Travelers Companies Inc.

In October 2015, Steve Fuller joined The Travelers Companies, Inc. responsible for managing Travelers’ International Government Affairs presence, focusing on regulatory, trade and investment issues. In this role Mr. Fuller concentrates on deepening Travelers’ relationships with international regulators, government officials, legislative oversight committees, and international trade associations. Mr. Fuller is helping to develop and implement strategies to build Travelers’ international network and the company’s presence in key foreign markets. Steve also is involved in the ongoing international regulatory reform and capital standards dialogue with U.S. and international regulators. Mr. Fuller also works closely with Travelers’ U.S. Government Relations team to coordinate strategies on key topics, such as market conduct, credit scores, broker compensation, and sales practice issues.

Based in Washington, D.C., Mr. Fuller joined Travelers from Chubb, where he served as the International External Affairs Officer responsible for the corporation’s global government relations team. He was previously Chubb’s China Country Manager, Asia-Pacific Zone Manager for Marketing and External Affairs, and interim India Country Manager.

Mr. Fuller also spent over a decade with The Asia Foundation as Representative for Malaysia, Singapore and Brunei, and Assistant Representative for Indonesia and South Korea.

Mr. Fuller is an Asian Corporate Governance Association Council Member and served as Chair of its Membership Committee. He is also Chair of the American Property and Casualty Insurance Association’s International Committee and was an Advisory Board Member of the RAND Corporation’s Center for Asia Pacific Policy. Steve received an MA degree from the Johns Hopkins School of Advanced International Studies (SAIS) and a BA (with honors) in Chinese Language and Asian History from the University of Maryland.

Dr. Cristie Ford

Dr. Cristie Ford

Professor, Allard School of Law, University of British Columbia

Dr. Cristie Ford’s research focuses primarily on regulation and governance in Canadian, American, and international finance and securities regulation. Recently she has expanded her research to include access to justice and governance of the legal profession. Professor Ford has published extensively in leading academic journals and handbooks, and written two books.

Professor Ford co-edited the leading international journal Regulation & Governance from 2012 to 2015 and now sits on its Executive Board and the Board of the Journal of International Economic Law. She lectures nationally and internationally, and has held visiting research positions at institutions including the European University Institute, Hebrew University, Oxford University and Utrecht University. She has been retained on several occasions by the Canadian Department of Finance to advise on banking and securities regulation. Professor Ford has also been a Killam Faculty Research Fellow at UBC, a member of the BC Attorney General’s 2020 Advisory Committee on pandemic-related backlog in the courts, has received the Curtis Memorial Award for Teaching Excellence, and served as Associate Dean for the Research and the Legal Profession.

Professor Ford obtained her graduate degrees from Columbia Law School, where she also taught as a lecturer, clinic supervisor, and Associate-in-Law. Before joining academia, she practiced law in Vancouver and New York. Her practice as a senior associate in securities regulation and financial litigation at Davis Polk & Wardwell LLP included many of the highest profile regulatory and white-collar criminal files of the dotcom bust and post-9/11 eras. She is a non-practising member of the BC and the New York state and federal bars.

Simon Archer

Simon Archer

Partner, Goldblatt Partners LLP

Simon Archer is a partner at Goldblatt Partners LLP where he works with professional associations, trade unions and boards of trustees across Canada, advising on negotiating pension and benefits, trust administration and fiduciary issues, public interest litigation, insolvencies, corporate accountability and governance.

He is a legal expert with the Canada Climate Law Initiative, a member of the Industry Working Group of the Canadian Association of Pension Supervisory Authorities, the Pension Advisory Committee to the Board of the Financial Services Regulatory Authority of Ontario. In 2016 he was appointed by Ontario’s Minister of Finance to represent the interests of workers and unions in an expert review of the regulations that apply to Ontario pension funds, and from 2006-2008 served as researcher for the Ontario Expert Commission on Pensions.

Simon is Co-Director of the Comparative Research in Law and Political Economy Forum at Osgoode Hall Law School, a fellow and occasional lecturer at Kings College, London and has been adjunct faculty at Osgoode Hall Law School, York University, Kings College and the University of Western Ontario. He has written extensively on workers rights, insolvencies and retirement income systems; has most recently written on pension funds as financial system stabilizers; is co-editor of a book of essays written in honour of Harry Arthurs; and co-editor of a book of essays on the politics of pension fund investments, among other publications.

Jordan Solway

Jordan Solway

Executive Vice President, Legal & Enforcement, Financial Services Regulatory Authority of Ontario

Jordan is strategic-minded lawyer and financial services executive with extensive expertise in financial services regulation, compliance, enterprise risk management, claim management, government affairs and corporate governance. He oversees legal services and regulatory enforcement and is responsible for ensuring that FSRA’s regulatory framework and policy objectives are effective and enforced to protect the public interest.

A lawyer and financial services executive, Jordan brings extensive legal and business experience to FSRA from the insurance/reinsurance industry where he specialized in financial services regulation, compliance, enterprise risk management, claims and litigation management, government affairs and corporate governance. Jordan joins us from his most recent position as Group General Counsel and Vice President, Claim with Travelers Canada. He is a thought leader on auto insurance and, before moving to practice business law, Jordan was a successful litigator in private practice and with the Department of Justice.

An instructor with Degroote Directors College, Jordan holds a Bachelor of Law and Juris Doctor from Osgoode Hall Law School and is a member of the Law Society of Upper Canada.

Innovation Discussion

Layial El-Hadi

Layial El-Hadi

Executive Director, Fintech Cadence

Layial is the Executive Director of Fintech Cadence (an organization that aims to create start-ups that will help solve the financial industry’s problems through the integration of technology) and a former professor at Concordia University. She was previously the Chief Financial Officer of Apisen, a specialized industrial equipment company. She sits on the Advisory Board of Queen’s University’s Master of Financial Innovation & Technology. In 2019, Layial was identified as one Digital Finance Institute’s Top 50 Women in Fintech and in 2018, Layial was awarded Mentor of the Year by Montreal NewTech for being the individual who had the biggest and most positive impact guiding Montreal-based startups.

Elvis Wong

Elvis Wong

Director of Financial Health, Fintech Cadence

Elvis is an experienced leader in supporting mission-driven startups. He previously founded Innovate Financial Health (now IFH Lab), a non-profit that supported startups focused on improving the financial lives of Canadians, particularly those more financially vulnerable. Elvis has also worked at the MaRS Discovery District to support early-stage entrepreneurs and with Social Capital Partners, leading their work with the Royal Society of the Arts to launch the inaugural Future Work Awards.

 

Marlena Labieniec

Marlena Labieniec

Director of FSRA’s new Office of Innovation

Marlena Labieniec is the Director of FSRA’s new Office of Innovation. She helped launch the office and leads the innovation team. This office will collaborate with the best and brightest entrepreneurs and businesses to encourage experimentation, promote innovative thinking and explore ways to attract and retain investment. The overarching goal is to help ensure Ontario becomes a leader in financial innovation in Canada and around the world.

Prior to joining FSRA Marlena was a strong strategy and transformational leader in the Financial Services, Consumer Packaged Goods, Life Sciences and Smart Energy industries with over 15 years of experience. Marlena worked with clients in North America and Europe and has proven success driving strategic alignment across international organizations while supporting large-scale transformations including streamlining of operations for Coca Cola across Europe, leading outsourcing initiatives for Zurich Insurance in Europe and North America, overseeing smart meter roll-out in BC and leading the strategy for Caribbean banking transformation for one of the top banks in Canada. Marlena also had the opportunity to manage a customer experience and innovation team for one of the largest L&H insurance companies in Canada where she was responsible for identifying new product solutions and opportunities including fintech partnerships.

Chair's Remarks

Joanne De Laurentiis

Joanne De Laurentiis

Chair of the Board, Financial Services Regulatory Authority of Ontario

A seasoned financial services executive, Joanne De Laurentiis’ governance experience includes leading multi-stakeholder organizations that represent and advocate on behalf of industry sectors.  Retired as President and CEO of The Investment Funds Institute of Canada  2016, Ms. De Laurentiis also served as President and CEO of Credit Union Central of Canada; Mondex Canada; and the Interac Association, Vice-President of the Canadian Bankers' Association, and Chief of Staff to an Ontario Cabinet Minister. Ms. De Laurentiis currently serves as Chair of the PIMCO Independent Review Committee; Vice-Chair of the Toronto Transit Commission, Member of Canada Life Funds Independent Review Committee, BeWhere Holdings Board, the Board of The Canadian Foundation for Economic Education, and is a Senior Fellow of the C.D. Howe Institute.

Ontario Minister of Finance Remarks

Hon. Peter Bethlenfalvy

Hon. Peter Bethlenfalvy

Minister of Finance, Ontario

Peter Bethlenfalvy has been serving as Ontario’s Minister of Finance since December 2020. Prior to his role at Finance, he served in Cabinet as President of the Treasury Board between 2018 and 2021. He was elected as MPP for Pickering—Uxbridge in 2018.

Minister Bethlenfalvy is responsible for ensuring Ontario’s long-term fiscal sustainability and providing the fiscal firepower needed to protect the health and wellbeing of Ontarians in the face of COVID-19.

During his time as President of the Treasury Board, he was responsible for the province’s expenditure management efforts, the government’s internal audit work, and was the official employer of the province’s public servants. Minister Bethlenfalvy led the creation of Ontario’s Office of the Comptroller General – the first of its kind in any Canadian province – and is Chair of the Future State Modernization Committee.

As Minister of Finance, he is responsible for the management of the province’s finances and building the environment for long-term economic prosperity. In the face of COVID-19, Minister Bethlenfalvy is focused on providing the supports Ontario families, workers, and businesses need through the pandemic. As the province charts its long-term recovery, he is working to ensure our health care system, communities and economy are positioned to emerge stronger than ever before.

Closing Remarks

Mark White

Mark White

CEO, Financial Services Regulatory Authority of Ontario

Mr. White is an accomplished and experienced leader and executive in the regulatory and financial sectors, with a passion for excellence and focused execution and a keen interest in understanding and meeting the needs of multiple stakeholders. With a strong background in regulation, risk management, governance, law, finance, change management and process improvement and oversight, Mr. White is uniquely positioned to drive the modernization and transformation of financial services regulation in Ontario, and to help ensure people in Ontario receive financial services which meet their needs, while balancing private and public sector objectives.

Before joining FSRA in May 2018, Mr. White held a number of senior executive positions at the Bank of Montreal. Most recently, as BMO’s Senior Vice President & Head Enterprise Risk, he had overall enterprise accountability for the design and implementation of the bank's risk management tools, methodologies and frameworks; for oversight of and reporting on the bank's risk management activities; and for governance and oversight of risk management functions, including the identification of top and emerging risks, the development and execution of qualitative and quantitative risk management techniques, the design and implementation of risk management systems and processes, and the provision of effective challenge over operational risks such as event, cyber, information and technology risk. He also served as BMO’s Senior Vice President responsible for strategic and technical leadership on capital adequacy, balance sheet efficiency, regulatory rules and capital issuances, frequently liaising with regulators and rating agencies.

Prior to BMO, Mark served as the Assistant Superintendent, Head of Regulation Sector at Canada’s bank and insurance regulator, the Office of the Superintendent of Financial Institutions (OSFI). As a member of the four-person OSFI Executive, he was the leader of a team responsible for OSFI’s approvals, policy-making, policy interpretation, legal services, capital/risk/solvency, research, accounting, pension oversight and actuarial policy functions. He led OSFI’s policy development during the global financial crisis - domestically working with various industry associations and leading companies, and with the Bank of Canada, the federal Ministry of Finance, the Canada Deposit Insurance Corporation and securities regulators - and internationally, with various industry groups and regulatory and rule-making bodies. In particular, Mr. White was OSFI’s representative on the Basel Committee for Banking Supervision during the Basel III process and chaired the Basel Committee’s Risk Measurement Group, leading reforms dealing with counterparty credit risk from capital markets instruments and exposures.

After business and law school and gaining experience in accountancy, Mr. White began his career at Fasken Martineau DuMoulin in 1987 as a business law lawyer, primarily focused on financial services. In 1992, he became Senior Vice President, Legal Director and Chief Counsel at the AT&T Capital consumer and commercial technology finance business, initially in Canada and later in Europe based in London England, where he led legal teams focused on regulatory compliance and transaction support. In 1997, he moved to Ernst & Young LLP/Donahue Ernst & Young, Barristers and Solicitors, where his practice focused on domestic and international financial services and transactions, and he became an equity partner and a member of the legal practice management committee. In 2001 he joined RBC Capital Markets, where he was Managing Director and Global Head of the Strategic Transactions Group, a successful and innovative structured finance business active in international capital markets and transactions.