New chair, director for MFDA

Amid an ongoing project to create a new industry self-regulatory organization, the Mutual Fund Dealers Association of Canada (MFDA) is making a couple of changes to its board.

The MFDA announced that public director Steven Glover has been appointed chair of the SRO’s board, following the resignation of former chair Christopher Nicholls, who stepped down as of June 30.

Glover, a chartered accountant, is currently chair of the MFDA board’s audit and finance committee. He’s been a director of the MFDA since 2014.

Additionally, the SRO said that Steven Donald, a former industry director (from 2010 to 2016) and one-time chair of the MFDA board, is returning to the board as a public director. Donald is coming back  after having “met the necessary requirements and cooling-off period to be eligible to serve as a public director,” the SRO said in a release.

Donald retired from CI Financial Corp. where he was executive vice-president and chief risk officer in 2019 and was formerly the president and CEO of CI’s wealth management division, Assante Wealth Management.

In a statement, Glover said that Donald’s “wealth of knowledge and experience will be invaluable as the MFDA continues its transition towards the establishment of the new SRO.”

Both appointments are effective July 13.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.