IIROC seeks candidates for district councils

By Staff | February 22, 2019 | Last updated on February 22, 2019
1 min read
microphones sitting on table

The Investment Industry Regulatory Organization of Canada (IIROC) is seeking candidates to serve on its various district councils, which provide the self-regulatory organization with advice on regional issues and which perform regulatory duties.

In a notice published today, the SRO calls on dealers to put forward potential candidates for election to the district councils for each region.

“The district councils provide an important opportunity to participate in the self-regulatory process of the securities industry,” IIROC says. “Along with its regulatory and policy development roles, district council discusses industry issues among members and with regulators to improve and enhance regulation and oversight of the capital markets in Canada.”

Each council comprises from four to 20 members, who must be officers or dealer employees. The councils typically meet between six and 12 times per year, and members serve two-year terms.

Candidates are reviewed by the district’s nomination subcommittee, and are approved by the council before being considered at the annual general meeting of the district.

“Nominees must be interested in getting involved and contributing to discussions on the investment industry’s regulatory aspects,” the notice says.

Nominations for prospective council members are due March 22.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.