GRI Summit 2025 Provincial Oversight in an Interconnected Risk Environment

3 smiling presenters at the GRI Summit 2025

Cultural Transformation, Principle-Based Supervision, and Technology-Driven Risks

In a discussion on the evolving role of provincial financial regulators, panelists Dexter John from FSRA (Ontario), Tolga Yalkin from BCFSA, and Ryan Clements from the Alberta Securities Commission (ASC) and Canadian Securities Administrators (CSA) explored how their agencies are adapting to a fast-changing risk environment shaped by technological disruption, volatility, and shifting expectations. John emphasized consumer protection, Yalkin described BCFSA’s shift from traditional prudential oversight toward a broader vision of “thriving financial services”, and Clements detailed the CSA’s focus on balancing investor protection and market competitiveness.

Dexter John

CEO, Financial Services Regulatory Authority of Ontario

Dexter John became the second CEO of the Financial Services Regulatory Authority of Ontario (FSRA) on March 1, 2025. He brings more than 25 years of leadership experience in governance, risk management, and regulatory oversight.

Before joining FSRA, Mr. John served as the President and CEO of Morrow Sodali (Canada) Ltd., where he advised boards and executives on corporate governance, environmental, social and governance (ESG) initiatives, shareholder engagement, executive compensation, and strategic investor voting analytics.

His previous leadership roles include Senior Vice President and Executive Vice President of D.F. King Canada (formerly CST Phoenix Advisors) and Executive Vice President & General Counsel of Kingsdale Shareholder Services Inc., where he provided strategic guidance to public company issuers and boards on governance matters and corporate strategy.

Mr. John has also held several roles at prominent organizations including the Investment Dealers Association, the Ontario Securities Commission, and the Toronto Stock Exchange. He began his career by practicing corporate law at Stikeman Elliott, where he developed a strong understanding of regulatory and governance frameworks.

An expert in corporate governance, Mr. John sits on the Organigram Holdings, CanPR and Institute of Corporate Directors (ICD) boards. He previously served on the boards of Prosper Gold Corp, Augustine Ventures Inc., and Partners Real Estate Investment Trust. He was also appointed to The Committee on the Future of Corporate Governance in Canada to contribute to the development and modernization of national governance policy.

Mr. John also has experience in regulatory governance, having served on FSRA’s Board of Directors from 2021-2025. During his tenure, he was an active member of the Human Resources & Governance Committee and the Statutory Funds Advisory Committee.

Tolga Yalkin

CEO, Superintendent of FIs, BC Financial Services Authority

Tolga is the Chief Executive Officer (CEO) of BC Financial Services Authority (BCFSA), where he serves as BC’s Superintendent of Financial Institutions, Superintendent of Pensions, Superintendent of Real Estate, Registrar of Mortgage Brokers as well as Chief Executive Officer of the Credit Union Deposit Insurance Corporation (CUDIC).

With over 13 years of experience in financial regulation, crisis management, compliance, and innovation, Tolga has built a strong reputation as a leader in regulatory oversight. Before joining BCFSA, he oversaw financial institutions at the Office of the Superintendent of Financial Institutions (OSFI), playing a key role in safeguarding Canada’s financial system and overseeing regulatory risks.

Tolga’s career is defined by his strategic leadership in high-stakes environments, showcasing his expertise in regulatory frameworks, public service, and economic and policy analysis. He has held senior roles in the federal government, including Assistant Deputy Minister of the COVID-19 Task Force at Health Canada, Assistant Deputy Minister at the Treasury Board of Canada Secretariat, and Director General of Health Canada’s Consumer and Hazardous Product Safety Directorate.

Tolga holds bachelor’s degrees in law and commerce and two master’s degrees in law from the University of Oxford.

Ryan Clements

Director, Advanced Research and Knowledge Management, Alberta Securities Commission

Dr. Ryan Clements is the Director of Advanced Research and Knowledge Management at the Alberta Securities Commission (ASC), and is the Chair of the Financial Innovation Hub with the Canadian Securities Administrators (CSA). He is also an Adjunct Professor at the University of Calgary Faculty of Law where he teaches Fintech and Developments in Financial Market Regulation. He received his Doctorate in Juridical Science at Duke University Law School, where his dissertation focused on post-crisis financial product innovation. He obtained a Master of Laws, Magna Cum Laude, from Duke University Law School, a Bachelor of Laws (with Distinction) and a Bachelor of Arts Economics (Honors, First Class) from the University of Alberta. He has advised various levels of government, and numerous companies on corporate, securities, fintech, crypto and other matters. He has practiced corporate and securities law at both large and boutique firms in Calgary and Toronto, and is a member of both the Law Society of Alberta and Ontario. Prior to his current appointment with the ASC, he was an Assistant Professor, Chair Business Law and Regulation at the University of Calgary Faculty of Law and Managing General Editor, and special Fintech Co-editor, of the Banking and Finance Law Review. He was previously a Senior Policy Advisor at the ASC, a member of the crypto-asset working group of the Investment Industry Regulatory Organization of Canada (IIROC, now CIRO), the New Economy Advisory Committee at the ASC, and the inaugural CSA Investor Advisory Panel. He has published and spoken extensively on topics in securities, derivatives, corporate and fintech law and regulation in international anthologies, peer-reviewed, Canadian and U.S. law reviews. He was also commissioned to write an expert report on Canadian cryptocurrency governance for the federal government’s Public Order Emergency Commission.