Corporate Governance

Steven Glover

Steven Glover, MBA, FCPA, FCA
Corporate Director
(Canmore, Alberta)
Joined December 2014

Hugh McNabney

Hugh McNabney, CPA (Retired) Corporate Director
(Orillia, Ontario)
Joined December 2016

Christopher Nicholls

Christopher Nicholls, BA, LL.B., LL.M., MPA (Chair of the Board)
Professor of Business Law
Western University
(London, Ontario)
Joined December 2014

Les O'Brien

Les O’Brien, Q.C.
Former Chairman
Nova Scotia Securities Commission
(Halifax, Nova Scotia)
Joined December 2015

Barbara Shourounis

Barbara Shourounis, LL.B.
Former Director
Saskatchewan Financial Services Commission
(Regina, Saskatchewan)
Joined December 2015

Vince Valenti

Vince Valenti, MBA
President
Valenti Holdings Inc.
(Manotick, Ontario)
Joined December 2016

Rick Annaert

Rick Annaert, CPA, CMA
President & CEO
Manulife Securities Investment Services Inc.
(Toronto ,Ontario)
Joined December 2012

Patricia Callon

Patricia Callon, LL.B., BA (Hons.) (Vice-Chair of the Board)
Senior Vice-President & General Counsel
Sun Life Financial Canada
(Toronto, Ontario)
Joined December 2016

Kirk Dudtschak

Kirk Dudtschak, MBA
Chairman & CEO
Royal Mutual Funds Inc.
(Toronto, Ontario)
Joined December 2016

Susan Dujmovic

Susan Dujmovic, FICB, ICD.D
Head of Corporate Sustainability
HSBC Bank Canada
(Vancouver, British Columbia)
Joined November 2017

Sonny Goldstein

Sonny Goldstein, CFP
President
Goldstein Financial Investments Inc.
(Toronto, Ontario)
Joined December 2015

Mark Kinzel

Mark Kinzel, BA
Executive Vice-President, Financial Services
Investors Group Inc.
(Winnipeg, Manitoba)
Joined December 2016

Mark T. Gordon

Mark T. Gordon, LL.B.
President & CEO
Mutual Fund Dealers Association of Canada
(Toronto, Ontario)

Compensation of Directors

The retainers and fees payable to Public Directors are as follows:

Annual Retainer for Public Directors $15,000
Annual Retainer for Chair of the Board $15,000
Additional Retainer – Chair of the Audit & Finance Committee $6,000
Additional Retainer – Chair of the Governance Committee $4,000
Additional Retainer – Chair of the Regulatory Issues Committee $4,000
Attendance Fee – Board and Committee Meetings in excess of 2 hours $1,500
Attendance Fee – Committee Meetings less than 2 hours $1,000

Out-of-town Public Directors who attend meetings in person receive a supplementary travel fee of $1,000 per meeting. The annual retainer for a Public Director who serves as Chair of the Board is set by the Board of Directors and is reviewed annually. Industry Directors are not compensated for their participation on the MFDA Board or its Committees, however, all Directors are reimbursed for related travel and out-of-pocket expenses.

Attendance of Directors

A total of 20 corporate meetings were held during FY2018 including one Annual General and Special Meeting of Members. The following is a breakdown of attendance and total compensation for FY2018 for the Board of Directors.

Director Board Audit & Finance Governance Regulatory Issues Term Expires Total Compensation
Rick Annaert (1) (2) 5 of 5 3 of 3 7 of 7 n/a 2018 n/a
Patricia Callon (1) (2) 5 of 5 3 of 3 7 of 7 n/a 2018 n/a
Kirk Dudtschak (3) 5 of 5 n/a n/a 3 of 4 2018 n/a
Susan Dujmovic (3) (joined November 30, 2017) 3 of 3 n/a n/a 2 of 2 2019 n/a
Steven Glover (1) 5 of 5 3 of 3 n/a n/a 2020 $39,500
Sonny Goldstein (3) 5 of 5 n/a n/a 4 of 4 2019 n/a
Mark Gordon 5 of 5 3 of 3 7 of 7 4 of 4 n/a n/a
Mark Kinzel (3) 5 of 5 n/a n/a 3 of 4 2018 n/a
David Losier (3) (stepped down November 30, 2017) 2 of 2 n/a n/a 2 of 2 n/a n/a
Hugh McNabney (1) 5 of 5 3 of 3 n/a n/a 2019 $33,500
Christopher Nicholls (2) (3) 5 of 5 n/a 7 of 7 4 of 4 2020 $63,000
Les O’Brien (1) (3) 5 of 5 3 of 3 n/a 4 of 4 2018 $42,500
Barbara Shourounis (3) 5 of 5 n/a n/a 4 of 4 2018 $30,000
Vince Valenti (2) 5 of 5 n/a 7 of 7 n/a 2019 $45,500

  1. Member of Audit & Finance Committee
  2. Member of Governance Committee
  3. Member of Regulatory Issues Committee