The Investment Industry Regulatory Organization of Canada (IIROC) is seeking candidates for its advisory committee on trading rules, the self-regulatory organization announced on Monday.
Candidates would serve on IIROC’s market rules advisory committee (MRAC), which provides advice to IIROC staff about possible changes to trading rules, guidance and other market regulation issues.
“MRAC reviews and makes recommendations to staff and the president of IIROC regarding each proposed amendment,” to the trading rules before the proposals are submitted to IIROC’s board, IIROC states in a notice.
The committee is charged with ensuring that proposed reforms adequately address market integrity concerns, are in the public interest and are practical and cost-efficient.
The MRAC also reviews and makes recommendations on proposed guidance concerning the interpretation of the trading rules.
IIROC is looking for a trading representative, a representative of institutional investors, a legal/compliance rep, and one independent member, the notice states.
Trading reps must be nominated by a dealer, but the others can be nominated by a dealer, a market, or IIROC.
The newly appointed reps will serve two-year terms, starting Oct. 2.
Nominations are due by Aug. 10.