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. A majority of its members must also be 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 FinanceGovernanceRegulatory Issues
Steven Glover, Chair (Public)
Mark Kinzel (Industry)
André Langlois (Industry)
Hugh McNabney (Public)
Barbara Shourounis (Public)
Vince Valenti, Chair (Public)
Rick Annaert (Industry)
Patricia Callon (Industry)
Christopher Nicholls (Public)
Les O’Brien (Public)
Barbara Shourounis, Chair (Public)
Katherine Dudtschak (Industry)
Sonny Goldstein (Industry)
Mark Kinzel (Industry)
André Langlois (Industry)
Christopher Nicholls (Public)

A total of 16 Committee meetings were convened during calendar 2020:

Audit & Finance Committee3 Meetings
Governance Committee9 Meetings
Regulatory Issues Committee4 Meetings