This month, we spotlight Paul Redman, Chief Economist and Vice
President of Economic and Market Analysis. Paul leads a multidisciplinary team
of economists, data scientists, and policy analysts within the Thought
Leadership division. The team’s responsibilities include several interconnected
areas than span the OSC’s mandate, including monitoring and analyzing market
developments, conducting economic analysis in support of regulatory operations,
and identifying and monitoring systemic risks.
The department examines trends in capital markets and the
broader economy, providing insights that help the OSC make timely,
evidence-based decisions. This includes tracking new products, business models,
and markets, and identifying early signs of structural change or market
vulnerabilities. Current priorities include monitoring global trade dynamics
and the impact of tariffs on investor and business confidence. The team also looks
at factors influencing investing and capital-raising decisions. The team is monitoring
developments in artificial intelligence (AI), both its use in capital markets
and its potential to enhance OSC analytics, recently conducting research on AI tools to assess issuer disclosure.
Supporting policy development is a major component of the
team’s operations. Paul emphasizes collaboration as a big part of his work. “Our
role is to bring an analytical lens, an economic and data-driven perspective, that
strengthens regulatory work”, said Paul. The team conducts economic research
and empirical analysis to inform rule proposals and support the completion of cost-benefit
analyses. Their work aligns with international best practices, ensuring OSC
policy development is grounded in rigorous economic analysis.
The group also helps identify and analyze sources of
financial system stress, coordinating OSC efforts to address systemic
vulnerabilities. The team actively contributes to the CSA Systemic Risk
Committee, which monitors and assesses potential systemic risks within capital
markets, coordinating responses, and developing strategies to mitigate threats
to financial stability. The Systemic Risk Committee publishes its Annual Report
on Capital Markets and the results of its 4th annual CSA Systemic Risk
Survey. The OSC also participates in the Heads of Agencies’ Systemic Risk
Surveillance Committee, alongside the Bank of Canada, Office of the Superintendent
of Financial Institutions, the Department of Finance, and others.
Paul has long participated in IOSCO’s
Committee on Emerging Risks, serving as chair and vice-chair, and now
continues as a member. “Every jurisdiction faces different challenges,” said
Paul. “Learning from the experience of others gives us new perspectives, and
sharing our experience helps strengthen global alignment. These discussions
also help build bilateral relationships with peer regulators worldwide.” The
team’s multi-level regulatory engagement ensures the OSC remains connected to
national discussions on market stability and system-wide risk.
The department contributes to several major initiatives,
including:
Reflecting on his team’s role and contributions, Paul
underscores a simple but foundational point: “At its core, the OSC is a
regulator of economic activity. Evidence-based analysis and economic insight are
central to that regulation, and that’s what the Economic and Market Analysis team
delivers.”
The OSC recently launched its Research
Grant Competition, offering grants of $30,000 to support innovative
research that advances evidence-based regulation. Paul shared his perspective
in a short
video message. We encourage you to watch it to learn more about the
competition and apply. The deadline to submit applications is February 27,
2026.
In each OSC
Guide, we shine a spotlight on the leaders and teams that you can
expect to interact with at the OSC. Stay tuned to meet more of the OSC team
next month!
