Canadian Securities Regulators Seeking Candidates for CEO and Board

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January 21, The Canadian Securities Administrators (CSA) announced that it has officially begun looking for CEO and directors to help run the newly formed regulatory authority. The CSA is a regulatory organization that serves Canadian markets, securities issuers and investors. The regulator is currently seeking to fill its leadership positions to enable the organization to continue to fulfill its mandates. As a result, the agency hired Russell Reynolds Associates, a global executive search firm, to assist in the search for a CEO as well as six industry directors and eight independent directors.

The CSA is expected to fill these positions in the second quarter and aims to have the new Canadian single self-regulatory organization (SRO) set up and operational by the end of the year. The watchdog has stated that the special joint committee it set up to be in charge of the recruitment process is currently looking for candidates for the organization’s CEO and its board of directors. As mentioned above, the board will consist of six industry directors and eight independent directors. The regulator mentioned that one of the independent directors would be elected to serve as the chairman of the SRO.

The CSA is awaiting the appointment of a board of directors to include existing board members of the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC), as well as a number of new candidates. The regulators explained the move by stating: “This way the board of the new SRO will benefit from the continuity of the knowledge and experience of the current boards, while at the same time adding new voices and perspectives.”

Candidates are expected to have a strong commitment to the goals and objectives of the new SRO to improve public trust and investment protection. In addition, candidates must have a wide variety of thoughts, backgrounds, and experiences.

Russell Reynolds Associates will help conduct recruitment services regarding interviews and evaluation of all candidates. The selected candidates will continue to be interviewed by the special joint committee, which will then recommend final candidates to the CSA and the boards of the MFDA and IIROC.

The CSA Aims to Accelerate the Development of Capital Markets

The announcement by the Canadian Securities Administrators is in line with its current efforts to harmonize, coordinate and improve the regulation of Canadian capital markets. The CSA works to bring together territorial and provincial securities regulators to share information and design regulations and policies to ensure the smooth operation of Canada’s securities industry. In this way, the CSA helps to avoid duplication of work and helps simplify the regulatory processes for companies seeking to raise investment capital and others doing their business in the investment industry. In addition, the impact of CSA on local investors comes through its efforts to educate investors about the securities industry and stock markets and how to protect them from investment fraud.

January 21, The Canadian Securities Administrators (CSA) announced that it has officially begun looking for CEO and directors to help run the newly formed regulatory authority. The CSA is a regulatory organization that serves Canadian markets, securities issuers and investors. The regulator is currently seeking to fill its leadership positions to enable the organization to continue to fulfill its mandates. As a result, the agency hired Russell Reynolds Associates, a global executive search firm, to assist in the search for a CEO as well as six industry directors and eight independent directors.

The CSA is expected to fill these positions in the second quarter and aims to have the new Canadian single self-regulatory organization (SRO) set up and operational by the end of the year. The watchdog has stated that the special joint committee it set up to be in charge of the recruitment process is currently looking for candidates for the organization’s CEO and its board of directors. As mentioned above, the board will consist of six industry directors and eight independent directors. The regulator mentioned that one of the independent directors would be elected to serve as the chairman of the SRO.

The CSA is awaiting the appointment of a board of directors to include existing board members of the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC), as well as a number of new candidates. The regulators explained the move by stating: “This way the board of the new SRO will benefit from the continuity of the knowledge and experience of the current boards, while at the same time adding new voices and perspectives.”

Candidates are expected to have a strong commitment to the goals and objectives of the new SRO to improve public trust and investment protection. In addition, candidates must have a wide variety of thoughts, backgrounds, and experiences.

Russell Reynolds Associates will help conduct recruitment services regarding interviews and evaluation of all candidates. The selected candidates will continue to be interviewed by the special joint committee, which will then recommend final candidates to the CSA and the boards of the MFDA and IIROC.

The CSA Aims to Accelerate the Development of Capital Markets

The announcement by the Canadian Securities Administrators is in line with its current efforts to harmonize, coordinate and improve the regulation of Canadian capital markets. The CSA works to bring together territorial and provincial securities regulators to share information and design regulations and policies to ensure the smooth operation of Canada’s securities industry. In this way, the CSA helps to avoid duplication of work and helps simplify the regulatory processes for companies seeking to raise investment capital and others doing their business in the investment industry. In addition, the impact of CSA on local investors comes through its efforts to educate investors about the securities industry and stock markets and how to protect them from investment fraud.

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