The Investment Industry Regulatory Organization of Canada (IIROC) is seeking candidates to serve on its various district councils, which provide the self-regulatory organization with advice on regional issues and perform regulatory duties.
In a notice published today, the SRO is calling on dealers to put forward potential candidates for election to the district councils for each region.
“The district councils provide an important opportunity to participate in the self-regulatory process of the securities industry. Along with its regulatory and policy development roles, district council discusses industry issues among members and with regulators to improve and enhance regulation and oversight of the capital markets in Canada,” IIROC says.
Each council is comprised of between four and 20 members, who must be officers or employees of a dealer. The councils typically meet between six and 12 times per year, and members serve two-year terms.
Candidates are reviewed by the district’s nomination subcommittee, and are approved by the council before being considered at the annual general meeting of the district.
“Nominees must be interested in getting involved and contributing to discussions on the investment industry’s regulatory aspects,” the notice indicates.
Nominations for prospective council members are due March 22.