2505. Chief Financial Officer

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    1. A Dealer Member must designate a Chief Financial Officer who must: 

      1. be designated as an Executive and meet the general requirements for Executives set out in section 2503, and

      2. satisfy the applicable proficiency and experience requirements set out in clause 2602(3)(xxix).

    2. The Chief Financial Officer need not be actively engaged in the business of the Dealer Member on a full-time basis if appropriate for the Dealer Member’s business.
    3. When a Chief Financial Officer ceases to be approved in the applicable category, the Dealer Member must either immediately: 
      1. designate a qualified individual as Chief Financial Officer, or
      2. with IIROC’s prior approval, designate an Executive as acting Chief Financial Officer.
    4. When an acting Chief Financial Officer is designated:
      1. that individual must satisfy the applicable proficiency requirements of clause 2602(3)(xxix) and be designated as Chief Financial Officer, or
      2. the Dealer Member must designate another qualified individual as Chief Financial Officer,
      3. within 90 days of the previous Chief Financial Officer’s cessation date.
    5. Any Dealer Member that fails to have a qualified Chief Financial Officer within 90 days of the cessation date of the previous Chief Financial Officer, or such other dates as IIROC may specify, will be liable for and pay to IIROC such fees as the Board may prescribe from time to time.

    There is no history log for this rule.

    There is no history log for this rule.