IIROC and the MFDA have begun the process of finding the wealth professionals who will help shape the industry's regulatory landscape
The investment industry’s new single self-regulatory organization (SRO) is due to launch in January, and it is now seeking members for part of its structure.
As part of merger of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) there will be an advisory panel made up of industry professionals.
The New SRO Investor Advisory Panel will be independent from the SRO staff and will “play an important role in the development of regulatory policy and to advise New SRO staff on annual priorities, strategic plans, and other regulatory initiatives,” according to a release.
Meetings are expected to begin in 2023 and members of the panel will be appointed for two years (three in a few cases) and are intended to reflect diversity across Canada.
The proposed new board for the single SRO was announced earlier this year.
Selection process
Members will be selected based on their experience, perspectives, backgrounds, knowledge, and location and will typically have expertise in investor protection, concerns, issues and/or rights.
The selection process for members of the inaugural New SRO Investor Advisory Panel will be jointly administered by staff of the MFDA and IIROC.
Applicants should include details of:
- experience with investor issues as it relates to your previous and/or existing role(s) (e.g., academic, investor/consumer advocate, public policy, retired industry members, etc.)
- experience with investor issues as it relates to specific products and/or business models
- any relevant regulatory experience
- specific skills or experience relating to investor issues or specific investor groups (e.g., legal, research, underserved investors, vulnerable investors, etc.)
- details regarding any existing or potential, actual or perceived conflicts of interest between your private interests and your potential future responsibilities as a member of the New SRO Investor Advisory Panel
If you are interested in being part of the panel, you can submit your application by emailing [email protected] by November 7, 2022.
