The Mutual Fund Dealers Association of Canada (MFDA) is seeking nominees for its regional councils.
The MFDA is calling for mutual fund dealers to nominate candidates for its four regional councils (Atlantic, Central, Prairie and Pacific), by March 31. Council members serve two-year terms (starting June 6) and are eligible to be selected to sit on the three-person hearing panels that adjudicate MFDA disciplinary proceedings.
There’s also a policy role for the councils in that the chair of each regional council is eligible to become an ex officio member of the MFDA’s policy advisory committee, which provides input to the regulator on the implications of its rules, policies and operations.
Dealers can nominate up to two candidates in each region in which the firm has either a head office or at least one branch. “Nominees should have a strong background in compliance and have held senior positions within the industry and their [firms] for a number of years, the MFDA notes.
If the number of nominees in any region exceeds the number of available positions, the MFDA will hold an election to select council members.