IIROC’s National Advisory Committee (NAC) is an advisory body which serves as a forum for Chairs of the District Councils to raise and discuss matters of interest and provide input on policy initiatives. The NAC holds regular quarterly meetings and special meetings at the call of the Chair and reports to the IIROC Board of Directors three times a year.
NAC should seek to solicit, review, coordinate and build consensus from comments and responses to regulatory proposals received from District Councils;
NAC should assume an advocacy role consistent with investor protection to promote self-regulation by acting as ambassadors to the industry at large;
NAC should identify and advise IIROC staff about industry trends that would assist IIROC in being more proactive in dealing with emerging issues and meeting regulatory obligations; and
NAC should aim to develop and harmonize a national approach to dealing with regulatory issues with respect to which the District Councils have a role such as granting registration exemptions, membership approvals, etc.
NAC membership is composed of the Chairs of the District Councils.
NAC Chair is elected by NAC members for a two-year term. To be elected NAC Chair, the member must be a District Council Chair.
A DC Chair who wishes to serve as NAC Chair should have the support of his/her DC considering that such DC Chair would be serving a two-year term.