20:53:05 EDT Thu 02 May 2024
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Globe says OSC's top enforcer Kehoe heads to the exits

2024-01-23 06:15 ET - In the News

The Globe and Mail reports in its Tuesday edition that the Ontario Securities Commission will soon need a new top enforcer. The Globe's Jameson Berkow writes that Jeff Kehoe, director of enforcement at the OSC since 2016, will leave the regulator at the end of February. Executive director Leslie Byberg will oversee the OSC's 175-person enforcement division until a permanent replacement for Mr. Kehoe is found. The OSC did not provide the reason for his departure. Mr. Kehoe, 60, oversaw some high-profile cases, such as the continuing action against failed lender Bridging Finance. He is also known for some equally high-profile missteps, including in 2022 when the case he assembled against former executives of cannabis grower CannTrust Holdings collapsed. CannTrust had originally run afoul of regulators in 2019 for using fake walls to conceal cannabis plants that were growing in violation of the rules that existed at the time. The outcome prompted legal experts to call for the OSC to change how the regulator handles enforcement issues. Despite the damage to the OSC's reputation the CannTrust case created, Mr. Kehoe is also credited with advancing several of the OSC's most significant initiatives in recent years.

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