The Investment Dealers Association of Canda has published a notice explaining the nomination process for its district councils.

The notice is directed to firms’ senior officers to explain how the nomination process works. The IDA indicates that there will be a separate letter sent to senior officers inviting nominations to the various regional councils.

The number of District Council members may range from eight to 20. Council members are elected for a two-year term. It notes that nominees should be sufficiently senior to make decisions about policy issues on their firm’s behalf, able to attend monthly district council meetings, and should be aware of industry issues and willing to make a contribution.

The district council nominating committee will review the nominations. Not all nominees will necessarily be asked to put their names forward for election at the district annual meetings, which will be held in May. The notice says that the membership of the councils is intended to reflect the IDA’s membership generally, with representation from a cross section of large, small, independent, foreign and bank-owned firms.

The IDA calls the district councils, “an important opportunity for its members to participate in the self-regulatory process and enhance the Canadian capital markets through their involvement in the regulatory and policy development processes.”