Candidate bio description
JOSEPH CHIUMMIENTO practices corporate and securities law in the City of Vaughan. As legal counsel and corporate secretary for many TSX and TSX Venture Exchange listed companies, Joseph set up in-house legal departments and gained a keen appreciation for raising money, the IPO process, corporate governance and contract review/drafting. While his business management expertise cuts across a wide range of sectors including natural resources, financial services, technology and construction, it is his real-world experience that shaped him into the trusted lawyer he is today such as the market crash in the fall of 2008. As the corporate secretary of a junior mining company on the Toronto Venture Exchange attempting to close a flow-through financing in a suddenly bearish market, Joseph guided the company to a quick and successful close; not just in his named capacity but more so as a trusted advisor and strategist. His experience also helps Joseph appreciate the decision-making process from the perspective of his clients ensuring that legal advice is supportive of management decisions. Clients from the corporate finance world and small & medium-size businesses alike value his direct approach and big-picture thinking. With unexpected creativity and a “can-do-attitude”, Joseph quickly becomes an indispensable source of unbiased guidance.
What inspired you to run for bencher this year?
I was inspired to run for bencher out of a desire for change. I believe the LSO has become bureaucratic, political and inefficiently managed, and I believed I could contribute to make it better. Right the ship or re-adjust the sails to bring it back on course. I have been on and advised many board of directors, audit committees and compensation committees and believe having benchers willing to question why or overall priorities is an important part to governance. Having disagreed with some of the decisions the law society has made in the recent past and noticing that almost unanimous voting results existed for politically motivated issues made be realize the need to get involved and share my views.
What do you believe is the biggest issue facing the legal profession?
My concern over the statement of principles, the experience of solo, small and medium sized firms and the deficit - budget issues at the LSO are the biggest issues facing the profession. These results are symptoms of and evidence of larger problems facing the LSO. The LSO should not be regulating the thoughts, forcing psychological internalization of beliefs (good or bad), nor should it be policing those thoughts. The priorities of the LSO should be to manage its affairs without running a deficit and to support lawyers in small firms to further protect the public interest.
What would be your first priority upon election?
My first actions would be designed to ensure we get clear focus on the priorities of the LSO and what actions are needed to drive the objectives set out by convocation.
What do you hope to achieve over the next four years as a member of Convocation?
I hope to have a voice for the Central East Region and all solo and small firms. Sharing my views and opinions and bring focus to the priorities of our Regulator are paramount.
What's the most pressing concern for the profession in your region of the province?
The future priorities of the LSO are the most pressing concern. It's current priorities have led to the statement of principles and and a deficit, and without a clear focus on who we are as a regulator these problems will continue.
Do you support the requirement to create and abide by a statement of principles?
I do not support this requirement and do not believe the Regulator should be compelling beliefs or policing thoughts.