Mac leaves Quest and FNC.

"The appointments by Quest follow Mr. Watson's resignation from Quest's Board of Directors, which Mr. Watson advised were for personal reasons." from tsx Quest.

Conclusion: He must have done something in the past and OSC is coming down on him. He wouldn't change cushy status quo for nothing. He'll still be advising Smith, as though nothing changed. But I guess he won't get shares, or does he get to keep options? I'm sure if Smith and Mac are friends, we'll get an explanation soon enough.

Ontario Securities Commission (OSC) is the regulatory body responsible for regulating the province's capital markets, according to a mandate established in the Securities Act (Ontario) and the Commodity Futures Act (Ontario). The Commission is a self-funded Crown corporation, accountable to the Legislature through the Minister of Finance.

-sg