From time to time, the MFDA Board of Directors establishes ad hoc committees as required.
In February 2009, the Board resolved to establish a Task Force on Governance Issues to address matters arising from the Annual General and Special Meeting of Members held on December 4, 2008. The particular issues reviewed by the Task Force were specified in MFDA Bulletin #0356-M.
The mandate of the Task Force included consultation with relevant constituencies and interested persons (including Board members, MFDA staff, MFDA Members, regulators, government, industry organizations and clients) to the extent and in a manner it determined to be appropriate. In total, the Task Force met on eight occasions: March 27, April 7, April 14, May 19, May 26, June 10, June 16 and August 11, 2009.
On April 16, 2009, the MFDA issued Bulletin #366-M – Task Force on Governance Issues: Comment Solicitation seeking preliminary input from Members and other interested stakeholders. The Task Force received 14 submissions in response to the Bulletin. On June 22, 2009, the Task Force tabled its Report at a meeting of the MFDA Board. The Board approved the publication of the Report for a further 30-day comment period open to Members and other interested stakeholders. A total of seven comment letters were received during the second-round comment period which ended July 30, 2009.
The Task Force met on August 11, 2009 to review the comments received. On August 18, 2009, the Board of Directors reviewed and approved the final Report (Bulletin #0390-M). Click here for a copy of the final Report of Task Force on Governance Issues. Hard copies of the final Report were included in the Special Meeting package mailed to Members on August 27, 2009. A Special Meeting of Members was held October 2, 2009 at the St. Andrew's Club & Conference Centre in Toronto, Ontario (Bulletin #0387-M and #0401-M).
Relevant Documents
Members of the Task Force
Chair: Martin L. Friedland, Q.C., Public Director
Professor of Law, University of Toronto
George Aguiar, Industry Director
President and CEO, GP Wealth Management Corporation
Ed Legzdins, Industry Director
Managing Director, International and SVP Retail Investments
BMO Financial Group
Thomas B. K. Martin, C.A., Industry Member
Chairman, Martin + Becker Financial Management Ltd
Paul M. Moore, Q.C., Public Member
Bennett Jones LLP
Robert J. Wright, Q.C., Public Director
Edinglen Holdings Inc.
