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OSC chair and chief executive Grant Vingoe, in Toronto, in April 2020.Melissa Tait/The Globe and Mail

The Ontario Ministry of Finance is extending the term of Ontario Securities Commission chair and chief executive Grant Vingoe, who began the role on April 15, 2020.

The decision will lengthen the tenure for Vingoe for up to one year beginning April 15, 2021.

A statement by Ontario Finance Minister Peter Bethlenfalvy says Vingoe has been a strong leader, and the extension will provide continuing executive leadership as the OSC transitions to a new governance framework.

Bethlenfalvy’s statement also says that the OSC is in the midst of dealing with proposed changes under the new stand-alone Securities Commission Act.

Vingoe says he plans to continue progress that the investor protection regulator has made over the past year in modernizing Ontario’s capital markets, including working on burden reduction and a task force review.

The OSC says Vingoe was previously vice-chair of the OSC and before that, was a partner with international law firms in Toronto and New York.

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