IIROC’s National Advisory Committee (NAC) is an advisory body which serves as a forum for representatives 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 seeks to solicit, review, coordinate and build consensus from comments and responses to regulatory proposals received from District Councils and IIROC;
NAC assumes an advocacy role consistent with investor protection to promote self-regulation by acting as ambassadors to the industry at large;
NAC identifies and advises IIROC staff about industry trends that assist IIROC in being proactive in dealing with emerging issues and meeting regulatory obligations;
NAC aims to develop and harmonize a national approach to dealing with regulatory issues with respect to which the District Councils have a decision-making role.
NAC membership is composed of representatives of the District Councils who serve a minimum two-year term and a Past Chair who serves a one-year term.
NAC Chair is elected by NAC members for a two-year term. To be elected NAC Chair, the member must be a District Council representative.
A DC representative who wishes to serve as NAC Chair should have the support of their District Ccouncil considering that such DC representative would be serving a two-year term.