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The Ontario Securities Commission's offices.PETER POWER/The Globe and Mail

Ontario's capital markets watchdog has filled a vacancy for its full-time staff. The Ontario Securities Commission appointed Monica Kowal to replace Mary Condon as vice-chair of the OSC, effective Wednesday.

A lawyer by training, Ms. Kowal worked in securities and corporate law on Bay Street for 15 years before joining the OSC. She has served as general counsel at the OSC for the past decade.

Ms. Kowal played a "critical role" in OSC proposals to require TSX-listed companies to provide disclosure about women's representation on boards and in senior management, according to an OSC statement. She was also a leader in the Cooperative Capital Markets Regulatory System Initiative, which pushes for a single securities regulator across Canada.

Mary Condon's two-year term as vice-chair expired this month. She is going back to academia as a professor at Osgoode Hall Law School, but will stay with the OSC part-time as a commissioner.

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