From the Regulators

Applications for the SRO's representative on CDS's board are due by Aug. 18

By James Langton |

The Investment Industry Regulatory Organization of Canada (IIROC) is seeking a candidate to serve as its nominee on the board of the Canadian Depository for Securities Ltd. (CDS).

The self-regulatory organization is entitled to nominate one director to the CDS board. In a notice, IIROC is calling on its dealer members to propose possibilities from their ranks.

"IIROC is seeking applications from individuals who have significant expertise in issues related to clearing and settlement," it notes, particularly from firms that are not affiliated with a bank, and do a lot of trading on the venture exchange.


IIROC's board will select the SRO's nominee at its meeting in September, and that person will be appointed to CDS's board for up to three years. Applications are due by Aug. 18.