As part of a planned governance overhaul, the Bourse de Montréal Inc. (MX) is seeking candidates for a new industry advisory committee with expertise in derivatives and self-regulation.
Last year, the MX proposed a new governance structure for its regulatory division. Under that proposal, the division will be overseen by a new board committee, the MX Self-Regulatory Oversight Committee (SROC), and a new industry advisory committee is to be created to support the work of the board’s new SROC.
That new body, which is to be known as the advisory committee on self-regulation, will review and provide feedback on the regulatory division’s policy proposals before they’re sent to the SROC for approval.
In a notice published Wednesday, the MX indicated the new structure will be adopted in the second quarter, and it called for volunteers to serve on the committee.
The committee must include at least one investor advocate, one institutional investor representative, and one member that represents a firm that trades on the MX.
Among other qualifications, at least half of the committee must reside in Quebec, and two-thirds must have expertise in compliance or self-regulation involving securities or derivatives.
Applications are due by March 24.
“All applications received will be evaluated by the division and its recommendations will be presented to the SROC for approval,” the MX said in its notice.