8408. Hearing panels 

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    1. The National Hearing Officer is responsible for the selection of members of a hearing panel from members of a hearing committee

    2. In connection with the selection of a hearing panel, the National Hearing Officer may consult with or seek the advice of the chair of a hearing committee

    3. For a hearing under sections 8209, 8210, 8215 or Rule 9300, the National Hearing Officer must, subject to subsections 8408(4) and 8408(6), select two industry members and one public member from the hearing committee of the applicable District as members of the hearing panel.

    4. If the chairs of both hearing committees consent, the National Hearing Officer may select a member of a hearing committee in one District to serve on a hearing panel in another District, but a hearing panel that considers a matter that relates to conduct in Québec must have a majority of members who reside in Québec. 

    5. The National Hearing Officer must appoint a public member as the chair of a hearing panel, and if the matter relates to conduct in Québec, the chair must be a public member of the hearing committee in the Québec District

    6. The National Hearing Officer may appoint a one-member hearing panel consisting of a public member of a hearing committee in a proceeding under section 8211 or section 8212, a motion or prehearing conference, or to act as case manager of a proceeding. 

    7. The National Hearing Officer must not select an individual to be a member of a hearing panel, if the individual: 

      1. is an officer, partner, director, employee or associate of, or is providing services to, a party or if a party is an affiliate, associate or employee of another person with whom the individual is in such a relationship,

      2. has or had another relationship to a party or matter that may create a reasonable apprehension of bias, 

      3. is precluded from acting as a member of the hearing panel by IIROC requirements, any law applicable in the District in which the hearing is held or by the recognition order or registration under securities laws of a Marketplace whose rules are the subject of the hearing, or 

      4. was consulted by or advised the National Hearing Officer in connection with the selection of the hearing panel

    8. The National Hearing Officer may not select an individual who is a member of a hearing panel in a proceeding under sections 8211 or 8212 as a member of a hearing panel on a subsequent hearing relating to the same matter, including a motion for a stay of a sanction imposed under section 8212, unless all parties consent to the selection of the member. 

    9. The National Hearing Officer may not select a member of a hearing panel who participates in a prehearing conference or who case manages a proceeding to be a member of the hearing panel on the merits, unless all parties consent to the selection of the member. 

    10. If a member of a hearing panel becomes unable to continue to serve as a member of the hearing panel for any reason, the remaining members may continue to hear the matter and render a decision, but only with the consent of all parties, and if neither of the remaining members is the chair, the hearing panel may retain its own legal counsel to advise it on legal and procedural issues, but not on the merits of the proceeding. 

    11. A decision of a hearing panel must be made by a majority of its members, and if the hearing panel consists of two members, must be unanimous.

    There is no history log for this rule.

    There is no history log for this rule.