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Bulletin #0934-M

For further information, please contact:

Ms. Croce Cuffaro
Executive Assistant to Ms. France Kingsbury,
Regional Director, Regulation
Regional Councils
For Distribution to Relevant Parties within your Firm

New SRO Regional Councils – Call for Nomination

Applications Due By: April 17, 2023

Members of the New SRO Regional Councils invite Dealer Members to nominate candidates for election to the Regional Councils in each Region[1] where the Dealer Member has offices.

1. Regional Councils Mandate and Role

On January 1, 2023, IIROC and the MFDA consolidated into the New SRO. New SRO By-law,  Article 10, provides for the creation of Regional Councils with an advisory role. These Regional Councils are not to be confounded with the former MFDA Regional Councils, who had a role similar to the District Hearing Committees mentioned in Article 11 of the New SRO By-law.

The Regional Councils play an important advisory role with respect to regional issues and provide a regional perspective on national issues, including client facing activities. They advise New SRO on industry trends of regulatory concern, provide input on the impact of New SRO’s regulatory initiatives, and communicate high-level information regarding meeting discussions to their constituents.

Members of the Regional Councils have the opportunity to participate in the self-regulatory process, discuss various topics related to the securities industry and to connect with both other Dealer Members in their Region as well as with New SRO Staff.

Each Regional Council is comprised of four to twenty members, including a Chair and a Vice-Chair. Position terms are held for two years, and they are renewable. Chair and Vice-Chair positions are held for a two-year term.  Regional Council meetings take place on a quarterly or monthly basis.

2. Nomination and Appointment Process

A Dealer Member with offices in the Region may nominate a candidate for election to the Regional Council. To qualify as a nominee, a person must be an officer or employee of a Dealer Member in the Region. Nominees must be interested in getting involved and contributing to discussions on the investment industry’s regulatory aspects.

All nominees are reviewed by selected members of New SRO Regional Councils and submitted for consideration at the Annual General Meeting of the Dealer Members of the Region.

3. Submissions

Please submit the completed Nomination form approved by the senior management of the Dealer Member (see Appendix A), including the individual’s resume, by no later than April 17, 2023 to Ms. Croce Cuffaro who acts as the national coordinator for this call for nominations.

Mail: Ms. Croce Cuffaro
Executive Assistant to Ms. France Kingsbury, Regional Director, Regulation
New Self-Regulatory Organization of Canada
525 Avenue Viger West, Suite 601
Montréal, Québec, H2Z 0B2

If you have any questions, please reach out to the following contact persons:

Ron Johnston (British Columbia, Alberta, Manitoba, Saskatchewan)
Director, Member Compliance, Western Canada

France Kingsbury (Quebec and Atlantic)
Québec Regional Director, Regulation

Michelle Pong (Ontario)
Senior Legal Counsel, Director, District Hearing Committees, Mutual Fund Division

[1] Per New SRO By-law section 10.1, the regions are as follows:

  1. Atlantic Region, composed of the Provinces of New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador;
  2. Québec Region;
  3. Ontario Region;
  4. Manitoba Region, composed of the Province of Manitoba and the Territory of Nunavut;
  5. Saskatchewan Region;
  6. Alberta Region, composed of the Province of Alberta and the Northwest Territories; and
  7. Pacific Region, composed of the Province of British Columbia and the Yukon Territory.