The Investment Dealers Association of Canada’s board of directors has approved by-law amendments regarding its committees.

The IDA says that the objective of the amendments is to establish the Member Regulation Oversight Committee as a standing committee; and, to provide the IDA board with the ability to create other standing committees from time to time.

The Member Regulation Oversight Committee is composed of the vice chairman, the president, two public directors and two other directors. It will oversee the member regulation department of the IDA, report to the board at least annually. It will not have access to information concerning current and ongoing complaints, investigations and prosecutions.

The other amendments give the board discretion to appoint other committees, “as it considers necessary or appropriate”. Any committee may be composed of public directors or other directors or both.