BMO GAM’s Ross Kappele elected IFIC chairman

The Mutual Fund Dealers Association of Canada (MFDA) announced that it has appointed several new directors to its board at the self-regulatory organization’s (SRO) annual general meeting (AGM) in Toronto on Thursday.

The four new members who represent the mutual fund industry include Rick Annaert, president and CEO of Manulife Securities Investment Services Inc.; Patricia Callon, senior vice president and general counsel with Sun Life Financial (Canada) Inc.; Kirk Dudtschak, president and CEO of Royal Mutual Funds Inc.; and Mark Kinzel, executive vice president, financial services, Investors Group Inc. They will all serve two-year terms.

In addition, two public directors — Hugh McNabney, a retired accountant, and Vince Valenti, president of Valenti Holdings Inc. — were approved to serve on the board. They will serve for three years. And Ernst & Young LLP was appointed as the SRO’s auditor.

Public director Christopher Nicholls, law professor at the University of Western Ontario, was appointed chairman of the board; and Barbara Shourounis, a former regulator with the Saskatchewan Financial Services Commission, was appointed as vice chairwoman.

The MFDA’s members also approved proposed changes to the SRO’s rules regarding trading authority and powers of attorney at its AGM. The amendments require regulatory approval before they can take effect.

The MFDA also announced that will hold its 2017 AGM on Nov. 30, 2017 in Toronto.

Photo copyright: sophiejames/123RF