The Mutual Fund Dealers Association of Canada is looking for candidates to serve on its regional councils, which preside over disciplinary hearings.
In a notice published today, the MFDA is inviting firms to nominate candidates for election to its four regional councils. There are 10 spots open on the Atlantic council, and 20 in each of the Central, Prairie, and Pacific councils. Elected representatives serve two-year terms, starting June 6, and are eligible to be selected as members of three-person hearing panels that adjudicate MFDA disciplinary proceedings.
Additionally, the chair of each regional council is eligible to become a member of the MFDA’s Policy Advisory Committee, which provides advice and comment on the legal, regulatory and market implications of MFDA rules, policies and operations.
Firms can nominate up to two candidates in each region in which it has a head office, or at least one branch office. Nominees must be a resident of the region, and, a partner, officer, director, employee or agent of an MFDA member in that region. They should also have a strong background in compliance and have held senior positions within the industry for a number of years, the MFDA says. Nominations are due by March 30.
If the number of nominees in any region exceeds the number of positions available, the MFDA will coordinate a mail-in ballot process to elect representatives for each regional council.