New Brunswick’s consolidated financial services commission gets new chair

New Brunswick has named a new chair for its recently-created Financial and Consumer Services Commission.

Peter Klohn of Saint John will being his five-year appointment beginning Jan. 1.

The commission, which began operating in July, consolidated the regulatory authorities for securities, insurance, pensions, consumer affairs, co-operatives, credit unions, caisses populaires, and loan and trust companies in the province. It is an arm’s-length Crown corporation, funded by the fees and assessments paid by the regulated sectors.

“I am looking forward to taking on this new and challenging role,” Klohn said in a government statement. “I am enthusiastic to begin working with the professional team at the commission in its important role of regulating financial services and protecting consumers and investors in the province.”

Klohn is a graduate of the University of New Brunswick and Osgoode Hall Law School. He has practised law in Saint John for more than 25 years. In 1986, he joined Stewart McKelvey, where he specialized in corporate finance, securities and technology law.

Klohn is also a member of the Canadian Bar Association, the Law Society of New Brunswick and the Saint John Law Society. He has received the institute of corporate directors designation from the Rotman School of Management and is an active member of the community. He also serves as the chair of the Harbour Station Commission.

“Mr. Klohn’s appointment is great news for the commission,” said David Barry, the current chair of the commission. “His extensive experience working with New Brunswick companies to help them prosper will provide an excellent point of reference for the other areas that the commission regulates.”