Ottawa, July 22, 2011
The Honourable Jim Flaherty, Minister of Finance, today announced the appointments of Mr. Les O’Brien, of Nova Scotia, and Mr. Peter M. Klohn, of New Brunswick, to the Advisory Committee of Participating Provinces and Territories to the Canadian Securities Transition Office (Transition Office). They replace outgoing committee members Professor Dawn Russell of Nova Scotia and William E. Belliveau of New Brunswick.
“It is my pleasure to welcome Mr. O’Brien and Mr. Klohn to the Advisory Committee, where they join a distinguished team of members nominated by their respective provinces and territories,” said Minister Flaherty. “I extend my sincere gratitude to Professor Russell and Mr. Belliveau for their contributions and commitment to the establishment of a Canadian securities regulator and wish them well in their future endeavours.”
Through the Advisory Committee, the 10 participating provinces and territories provide valuable input to the Transition Office to ensure that a securities regulatory regime would be responsive to local, regional and national needs.
The Supreme Court of Canada is considering a reference on the constitutionality of a national securities regulator. That decision is expected later this year.
In the meantime, the Advisory Committee of Participating Provinces and Territories provides advice to the Transition Office on matters related to the proposed Canadian Securities Regulatory Authority. The Transition Office is led by the Chair and CEO Doug Hyndman, Vice-Chair Bryan Davies and Executive Vice-President and Senior Policy Advisor Larry Ritchie.
For further information, media may contact:
Mary Ann Dewey-Plante
Press Secretary Office of the Minister of Finance
Media Relations Department of Finance
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Les O’Brien, Q.C., BCom, LLB, LLM
Les O’Brien has been the CEO and Chairman of the Nova Scotia Securities Commission since 2002. Shortly before rejoining the Commission in 2000 as Vice-Chair, Mr. O’Brien retired from Dalhousie University’s Faculty of Law following 30 years in academia, during which he served as Associate Dean of the law school and taught and researched in areas such as securities law, corporate law, commercial law, taxation, and financial institution regulation. Mr. O’Brien has also served as a public governor of the Canadian Investor Protection Fund.
Peter M. Klohn, BBA, LLB, ICD.D
Peter M. Klohn has been a partner in the Saint John office of the law firm Stewart McKelvey since 1990, where he now leads the Owner Managed Business Practice Group and practises in areas of law including securities/corporate finance, corporate/commercial, and mergers & acquisitions. He holds a Bachelor of Business Administration (Lieutenant Governor’s Medal) from the University of New Brunswick and a Bachelor of Law from Osgoode Hall Law School. He has been accredited by the Institute of Corporate Directors and received their ICD.D designation. He was admitted to the Law Society of Alberta in 1983 and the Law Society of New Brunswick in 1986.
Mr. Klohn has consulted to the New Brunswick government on securities legislation and remains active in regulatory reform and capital formation initiatives. He has been a member of various private and not-for-profit corporate boards and business advisory boards. He has been both a lecturer and writer on numerous topics for the business community and the Law Society of New Brunswick, and is a former member of the Council for the New Brunswick branch of the Canadian Bar Association.