Specific Responsibilities: The Committee provides advice on issues referred to IIROC for consideration by:
- the Bank of Canada and the federal Department of Finance related to the fixed income market (including rules and procedures governing Primary Dealers and Government Securities Distributors); and
- the Bourse de Montréal related to the fixed income derivatives market.
At the request of the President, the Committee may review and make a recommendations to the President or the Board respecting:
- the position to be taken by IIROC in response to a request for comments issued by a securities regulatory authority or self-regulatory organization that would impact trading of fixed income securities; and
- any other matter that, in the opinion of the President or the Board, the review or comment of the Committee would be desirable.
Membership & Structure
Membership Committee: membership is limited to 15 comprised of:
- Dealer Members that are designated as Primary Dealers of Government of Canada Bonds by the Bank of Canada;
- Representative of the TSX, if the TSX chooses to be represented on the Committee;
- Marketplace Members, other than the TSX, that trade fixed income securities; and
- At least one independent person (i.e. not a director, officer or employee of a Member) who has experience or expertise that, in the opinion of the President and CEO or his/her designate, would benefit the Committee.
- President (or another officer of IIROC designated by the President); and
- Chair of the Board (or another member of the Board designated by the Chair or the Board).
Term: 2-year term, renewable
Nominating Process: Each Dealer Member or Marketplace Member that meets the membership requirements may nominate one member to the Committee.
Appointment Process: All nominees are reviewed by the President and CEO or his/her designate and, if accepted, appointed to the Committee.
Meeting Schedule: Regular quarterly meetings and special meetings at the call of the Chair.
Executive and Subcommittees
Chair and Vice-Chair: A Chair and Vice-Chair are elected by the members of the Committee for the 2-year term of the Committee.
Executive Committee: No Executive Committee
Sub-Committees: Standing Sub-Committees may be established at the initiative of Committee. The one existing Sub-Committee is the Retail Fixed Income Sub-Committee