Regional Councils

MFDA Regional Councils are separate and distinct from the Board of Directors. The MFDA has four Regional Councils corresponding to four geographic regions: Atlantic, Central, Prairie and Pacific.

The principal duties of the Regional Council in each Region are:

  • the conduct of hearings by Hearing Panels created from among representatives serving on the Regional Council, and
  • the consideration of policy matters relevant to the MFDA.

Each Regional Council is comprised of the following 1 – 4 :

  1. Elected Representatives of Members who are resident in the applicable Region;
  2. Ex officio Representatives, identified in Section 18.2 of MFDA By-Law No. 1;
  3. Appointed Public Representatives, who are either retired judges or practising lawyers; and
  4. Appointed Industry Representatives, who are individuals with securities industry experience and retired from the industry or not associated with a Member.

Hearing Panels

MFDA disciplinary proceedings that may be commenced against a Member or Approved Person in a Region are conducted before an independent, impartial Hearing Panel. Hearing Panels are comprised of three Regional Council representatives: one Public Representative and two Industry Representatives.

The Public Representative, who serves as the Chair of each Hearing Panel, is either a retired judge or practising lawyer in Canada with litigation and/or administrative law experience. This ensures that all MFDA disciplinary proceedings are conducted in accordance with the highest standards of procedural fairness.

MFDA hearings are conducted in public. Follow this link to view the Hearings Schedule. The MFDA reports hearings-related information directly to the CSA, disseminates information by news release to the media, provides a subscription service to interested members of the public, and posts hearings-related documents to the MFDA website.