MFDA Regional Councils are separate and distinct from the Board of Directors. The MFDA has four Regional Councils corresponding to four geographic regions: Atlantic, Central, Prairie and Pacific.
The principal duties of the Regional Council in each Region are:
- the conduct of hearings by Hearing Panels created from among representatives serving on the Regional Council, and
- the consideration of policy matters relevant to the MFDA.
Each Regional Council is comprised of the following categories of representatives:
- Elected Representatives of Members who are resident in the applicable Region;
- Ex officio Representatives, identified in Section 18.2 of MFDA By-Law No. 1;
- Appointed Public Representatives, who are either retired judges or practising lawyers; and
- Appointed Industry Representatives, who are individuals with securities industry experience and retired from the industry or not associated with a Member.
Hearing Panels
MFDA disciplinary proceedings that may be commenced against a Member or Approved Person in a Region are conducted before an independent, impartial Hearing Panel. All Hearing Panels are comprised of three Regional Council representatives: one Public Representative and two Industry Representatives.
The Public Representative, who serves as the Chair of each Hearing Panel, is either a retired judge or practising lawyer in Canada with administrative law experience. This ensures that all MFDA disciplinary proceedings are conducted in accordance with the highest standards of procedural fairness.
MFDA Hearings are conducted in public. Follow this link to view the Hearings Schedule.
Information respecting Hearings is reported by the MFDA to the CSA, disseminated by news release to the media and posted on the MFDA website. MFDA Hearings information is also published in the Ontario Securities Commission Bulletin.
