December 14, 2018
Province Appoints Chief Administrative Officer of Manitoba Financial Services Agency, Chair and CEO of Manitoba Securities Commission
David Cheop, QC, has been appointed the chief administrative officer of the Manitoba Financial Services Agency and chair and chief executive officer of the Manitoba Securities Commission (MSC), Finance Minister Scott Fielding announced today.
“Mr. Cheop’s extensive experience in the securities industry will guide the MSC as it continues to improve regulatory protection for the public and investors, educate industry stakeholders, and co-ordinate with federal and provincial regulators,” Fielding said.
Cheop is vice-president and chief compliance officer for IG Investment Management Ltd. and Mackenzie Financial Corporation. He graduated from the University of Toronto with a B.A. in 1976 and the University of Manitoba with a bachelor of law degree in 1980. He was called to the Manitoba bar in June 1981. He articled and practised in corporate and commercial law with a particular emphasis on securities law for more than six years.
From 1986 to 1998, Cheop served as the deputy director/secretary for the Manitoba Securities Commission, whereby he served as the chief legal office for the commission. He was appointed Queen’s counsel in December 1997.
Cheop is vice-chair of the ICE Futures Canada, Special Regulatory Committee, and member of the Policy Advisory Committee of the Mutual Fund Dealers Association of Canada. He is also a director honorary counsel for a number of charitable organizations, and has received the prestigious City of Winnipeg Community Service Award and the Queen Elizabeth II Diamond Jubilee Medal.
The Manitoba Financial Services Agency is a provincial special operating agency. It administers and enforces legislation for the province’s securities and insurance sectors, real estate and mortgage brokers, credit unions, caisses populaires, co-operatives and trust and loan companies. The agency is comprised of the Manitoba Securities Commission and the Financial Institutions Regulation Branch.
The Manitoba Securities Commission administers The Securities Act, The Real Estate Brokers Act, The Mortgage Brokers Act and The Commodity Futures Act. The commission works to protect the public by facilitating dynamic and competitive capital and real estate markets. Commission members meet regularly to create policy, address applications seeking exceptions or other special relief, and undertake hearings on disciplinary proceedings related to the four acts.
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