British Columbia Securities Commission
Vancouver and Toronto – The Canadian Securities Administrators (CSA) today announced the start of the search for candidates for the chief executive officer (CEO) and members of the Board of Directors for the new self-regulatory organization (SRO).
As announced in November 2021, the CSA established a Special Joint Committee to lead the recruitment process. The Special Joint Committee has retained Russell Reynolds Associates, a global leadership advisory and search firm, to assist with recruitment.
The Special Joint Committee is actively seeking candidates for the CEO, who would also be a voting member of the board. It is also recruiting six industry directors and eight independent directors, with one of the independent directors serving as the SRO’s Chair.
Candidates should have a strong commitment to the goals and objectives of the new SRO to enhance investor protection and public confidence, ensure fair and efficient markets, accommodate innovation and to adapt to continually evolving industry conditions.
The Special Joint Committee will be seeking broad diversity of thought, background and experience. Consideration will be given to other aspects of diversity, including gender, ethnicity and other qualities and identities to reflect the diverse people of Canada. The Special Joint Committee will also consider geographic representation.
It is expected that some directors will be nominated from the existing board of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), and others will be new. In this way, the new SRO’s board will benefit from the continuity of the knowledge and experience of the current boards, while also adding new voices and perspectives.
All candidates will be interviewed and evaluated by the search firm. Selected candidates will then be interviewed by the Special Joint Committee to determine the final candidates to be recommended to the CSA and the boards of IIROC and the MFDA. The evaluation and selection process has been constructed with the intent to be transparent and fair to all applicants.
The CSA has posted on its website the role descriptions for the CEO and board director positions; the descriptions are also available on the IIROC and MFDA websites. All candidate enquiries should be directed to [email protected].
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
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