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Bulletin #0187-P

Policy
Regional Council Nomination and Election Process

Mutual Fund Dealers Association of Canada
Association canadienne des courtiers de fonds mutuels
121 King Street West, Suite 1000, Toronto, Ontario, M5H 3T9
TEL: 416-361-6332 FAX: 416-361-9781 WEBSITE: www.mfda.ca

Contact: Gregory J. Ljubic
BULLETIN #0187-P

Corporate Secretary & Director, Regional Councils
March 2, 2006
Phone:
416-943-5836
E-mail:
gljubic@mfda.ca


MFDA Bulletin

Policy

For Distribution to Relevant Parties within your Firm

Regional Council Nomination and Election Process

At this time, the MFDA is pleased to announce the commencement of its Regional Council
nomination and election process.

The MFDA has Regional Councils in the following Regions:

• Atlantic Region (comprising Nova Scotia, New Brunswick, Prince Edward Island and
Newfoundland and Labrador)
• Ontario Region
• Pacific Region
(comprising British Columbia and the Territories)
• Prairie Region
(comprising Alberta, Saskatchewan and Manitoba)

The membership of each Regional Council includes elected representatives – individuals resident
in the applicable Region who are partners, officers, directors, employees or agents of a Member
in the Region. Elected representatives are eligible to sit as members of 3-person Hearing Panels
that may be established from time to time to conduct MFDA disciplinary proceedings. Elected
representatives may also participate in meetings of their Regional Council, from time to time, for
the consideration of policy matters relevant to the MFDA.

The 2-year terms of office for incumbent elected representatives on each Regional Council are
scheduled to expire in June 2006.

The first step for constituting the Regional Councils will be a Nomination Process.

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The Nomination Process will be conducted on a Region-by-Region basis and is directed at firms
that are Members in the Region. A firm is considered to be a Member in a Region if it has its
Head Office or Principal Office in the Region, or if it has at least one Branch Office in the
Region.

The MFDA will be forwarding a Nomination Package to the Executive Office of each Member
in each Region, inviting nominations of eligible individuals from within their organizations to
run for election. The Nomination Package will include a copy of the Nomination Form and
related instructions.

Individuals nominated for election to a Regional Council must meet the following eligibility
criteria:

• The individual must be resident in the Region in which they seek election, and
• The individual must be a partner, officer, director, employee or agent of a Member in that
Region.

Based on experience to date, candidates have typically had a strong background in compliance
and have held senior positions within the industry.

The number of individuals to be elected to each Regional Council has been determined by the
MFDA Board of Directors as follows:

Atlantic Region:

10 elected representatives
Ontario Region:

20 elected representatives
Pacific Region:

15 elected representatives
Prairie Region:

15 elected representatives

Following the completion of the Nomination Process in each Region, if the number of eligible
individuals nominated by the Members in that Region does not exceed the number set out above,
then the individuals nominated will be elected by acclamation. Otherwise, the MFDA will
coordinate a mail-in Ballot Process for the election of Member representatives to the Regional
Councils (the particulars of which would be set out in a separate Bulletin).

The Nomination Process will be open until Friday, March 31, 2006.

Docs #76997

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