Typically, Hearing Panels sit in panels of three. The Chair of a hearing panel is a public member, who is either a retired judge or senior lawyer. The other two panel members are representatives of the investment industry and may be either active or retired. First appearances are often presided by a panel of one, typically the Chair. In exceptional circumstances, with consent of the parties, a proceeding may be heard by a panel of two members.
Term of appointment
Members are appointed to the Hearing Committees for a three-year term and can be reappointed to successive terms.
The Corporate Governance Committee of the Board reviews applications and appoints the Hearing Committees members, taking into account the individual’s:
- general knowledge of business practices and securities legislation,
- regulatory background,
- availability for hearings,
- reputation in the securities industry,
- ability to conduct hearings in French or English, and
- Districts in which individuals would be entitled to serve.
- Pacific District (includes British Columbia and the Yukon Territory)
- Alberta District (includes Northwest Territories)
- Saskatchewan District
- Manitoba District (includes Territory of Nunavut)
- Ontario District
- Québec District
- New Brunswick District
- Nova Scotia District
- Prince Edward Island District
- Newfoundland and Labrador District