According to the statement, the committee is aiming for “the widest diversity of views, backgrounds and experience”. Other aspects of diversity, including gender, ethnicity and other attributes and identity, will be considered to reflect the diversity of Canada’s population. Geographical representation will also be a consideration, the statement said.
Nominations for the Board of Directors are expected to include existing board members from the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), as well as some new candidates.
“As such, the board of the new SRO will benefit from the continuity of the knowledge and experience of the existing boards, as well as adding new voices and perspectives,” the statement said.
To help with recruitment, the committee has hired the services of Russell Reynolds Associates, a global leadership consultant and search firm, which will interview and evaluate all candidates. The selected candidates will be interviewed by a special Joint Committee, which will then recommend the final candidates to the Boards of CSA and IIROC and MFDA.
“The assessment and selection process is designed with the intention of being transparent and fair to all applicants,” the statement said.
