Board Committees

The MFDA has three standing committees of the Board of Directors: Audit and Finance Committee, Governance Committee and Regulatory Issues Committee.

Audit and Finance

The Audit and Finance Committee is required by MFDA By-laws to be chaired by a Public Director. A majority of its members must also be Public Directors. The Committee’s responsibilities include the review of financial statements, MFDA risk management internal control functions, and the review of the MFDA budget. For more information, please refer to the Audit and Finance Committee Terms of Reference.

Governance

The Governance Committee is required by MFDA By-laws to be chaired by a Public Director. It has an equal number of Industry and Pubic Directors. The Committee’s responsibilities include the Director nomination process, recommendations for Board committee membership, and Board assessments. For more information, please refer to the Governance Committee Terms of Reference.

Regulatory Issues

MFDA By-laws require a Public Director to chair the Regulatory Issues Committee. The Committee’s responsibilities include the review of any Policy, Rule or By-law amendment proposed to be presented to the Board and consideration and determination of applications from Members for exemptive relief from MFDA regulatory requirements. For more information, please refer to the Regulatory Issues Committee Terms of Reference.

The composition of the Board’s three standing Committees is as follows:

Audit and Finance Governance Regulatory Issues
Steven Glover, Chair (Public)
Rick Annaert (Industry)
Patricia Callon (Industry)
Hugh McNabney (Public)
Les O’Brien (Public)
Vince Valenti, Chair (Public)
Rick Annaert (Industry)
Patricia Callon (Industry)
Christopher Nicholls (Public)
Les O’Brien, Chair (Public)
Kirk Dudtschak (Industry)
Sonny Goldstein (Industry)
Mark Kinzel (Industry)
David Losier (Industry)
Christopher Nicholls (Public)
Barbara Shourounis (Public)

A total of 14 Committee meetings were convened during calendar 2016:

Audit & Finance Committee 4 Meetings
Governance Committee 6 Meetings
Regulatory Issues Committee 4 Meetings