The Commission comprises five members: the Chair, John Solursh, two Vice-Chairs, Anne Corbett and Florence A. Holden; the Director of Arbitrations, Tom Golfetto; and the Superintendent of Financial Services, Philip Howell. The Superintendent is also the CEO of FSCO. The Chair and Vice-Chairs of the Commission are also the Chair and Vice-Chairs of the Tribunal.
The purposes of the Commission are set out in the FSCO Act:
- to provide regulatory services that protect the public interest and enhance public confidence in the regulated sectors;
- make recommendations to the Minister of Finance (Minister) about the regulated sectors;
- provide resources necessary for the proper functioning of the Tribunal.
It is also charged with some statutory responsibilities:
- recommend to the Minister and the Lieutenant Governor-in-Council fees and assessments to cover regulatory costs;
- establish conflict of interest guidelines for the Commission and Tribunal members and FSCO staff;
- publish and deliver to the Minister an annual statement of priorities of FSCO, and provide an annual report.
Mr. John Solursh was appointed Chair of the Commission and the Financial Services Tribunal on August 9, 2007, having served as Vice Chair since February 25, 2005. Mr. Solursh is a Partner Emeritus of Blake, Cassels & Graydon LLP. He is a former chair of the firm's Executive Committee, a former Managing Partner of the firm, and was the partner-in-charge of the firm's Pension and Employee Benefits Group. He holds an LL.B from the University of Toronto.
Mr. Solursh is a former co-chair of the International Bar Association's sub-committee on Employee Benefits & Pensions, a Past Chair of the Executive of the Canadian Bar Association (Ontario) Pension and Benefits Section, a former member of the Legal Advisory Committee to the Pension Commission of Ontario, and a former member of the Executive of the International Pension and Employee Benefits Lawyers Association. Mr. Solursh serves as the Chair of the Actuarial Standards Oversight Council which was established in January2007 by the Canadian Institute of Actuaries to provide independent oversight in the public interest of the Actuarial Standards Board and its activities in developing and adopting Canadian actuarial standards of practice. Mr. Solursh was appointed a member to the Financial Services Tribunal on August 11, 2004.
Ms. Anne Corbett was appointed Vice-Chair of the Commission and the Financial Services Tribunal on August 11, 2004. Ms. Corbett is a partner with Borden Ladner Gervais LLP, practicing as a corporate commercial lawyer with special emphasis on pension law and hospital law. Ms. Corbett holds a B.A. from the University of Windsor and an LL.B. from the University of Toronto. Ms. Corbett was appointed a member to the Financial Services Tribunal on June 20, 2001.
Ms. Florence A. Holden was appointed Vice-Chair of the Commission and the Financial Services Tribunal on September 8, 2009. Prior to her retirement in September 2011, Ms. Holden was a Principal with Towers Perrin (now Towers Watson). She specialized in providing advice on the design, implementation, administration and documentation of retirement plans and funds including advice on governance and compliance matters. Ms. Holden holds a Bachelor of Business Administration (Honours) from York University and an LL.B. from Osgoode Hall Law School.
Ms. Holden was previously the Chair of the Executive of the Ontario Bar Association's Pension and Benefits Section. Ms. Holden was first appointed a member to the Financial Services Tribunal on August 11, 2004.
Mr. Philip Howell was appointed the CEO and Superintendent of Financial Services for the Financial Services Commission of Ontario effective August 19, 2009.
Prior to FSCO, Mr. Howell served as the Deputy Minister of Economic Development for the Ontario government and previous to that appointment, he was the Deputy Minister of Tourism. He moved to Tourism from the Ministry of Finance where he was the Associate Deputy Minister of Finance, responsible for Treasury Board.
After working at the Bank of Canada as an economist, Mr. Howell's OPS career began in the Economic Policy Branch in the former Ministry of Treasury, Economics and Intergovernmental Affairs. He left the OPS in the mid-1980s to work in the private sector, including a major brokerage house, the Conference Board of Canada and a chartered bank. He returned to the OPS as director of the Industrial Policy Branch, Ministry of Industry, Trade and Technology. He moved back to the Ministry of Finance as director of the Taxation Policy Branch in 1999. Subsequently, he served as the ADM of the Office of Economic Policy and the Chief Economist for the Province. During that period he also served for 14 months as the interim CEO and Superintendent of the Financial Services Commission of Ontario.
Mr. Howell has an Honours BA in economics and an MSc in economics from the London School of Economics.
Mr. Tom Golfetto has worked at the Financial Services Commission of Ontario (formerly the Ontario Insurance Commission) since 1992. Prior to joining FSCO he spent twelve years in management positions in the insurance industry.
At FSCO Mr. Golfetto was initially a mediator in Dispute Resolution Branch and was subsequently the Director, Pension Plans Branch. Since June 2008 he has been the Executive Director of the Automobile Insurance Division and was appointed Director of Arbitrations by the Lieutenant Governor in May 2009.