Monica Kowal has over 25 years of experience in capital markets law and policy spanning both the public and private sectors. Most recently, Ms. Kowal continues to play a leading role on the Cooperative Capital Markets Regulatory System initiative as well as other major policy initiatives of the Ontario Securities Commission.

Before becoming Vice-Chair, Ms. Kowal was General Counsel of the OSC, building a 15 person in-house legal, policy and risk management resource to the Commission while leading a number of regulatory reform agendas including modernizing derivatives legislation following the 2008 financial crisis. As a trusted advisor to governments and an expert in capital markets regulation, Ms. Kowal was seconded to the Canadian Securities Transition Office where she led the federal derivatives regulatory initiative and co-led the harmonization of provincial securities regulation.

Prior to joining the OSC, Ms. Kowal was a partner at Blake, Cassels & Graydon LLP where, as a member of the Blakes securities group, she was involved in extensive securities and corporate law matters.