Special Committee – Regulatory Division

The Special Committee supervises and controls the activities of the Regulatory Division, subject to the final authority of the Bourse's Board of Directors and the AMF.

The Special Committee adopts or amends Rules and Policies of the Bourse regarding in particular various matters relative to the supervision of Approved Participants and, their Approved Persons. It makes recommendations to the Board of Directors regarding the Rules and Policies of the Bourse relative to market surveillance.

It also approves requests for approvals to become Approved Participants and exercises powers to suspend or revoke such approvals. It also exercises powers to order inspections and investigations and acts as an appeal forum for final decisions rendered by disciplinary committees of the Bourse or other staff committees of the Bourse.

The Special Committee is composed of at least 50% of persons who are Quebec residents, at the time of their appointment and for the duration of their term, of at least 50% of persons who satisfy the independence conditions that are applicable to the Directors of the Bourse and of at least 50% of persons having expertise in derivative instruments.

Mandate and Composition of the Special Committee – Regulatory Division

Disciplinary Committee

The Disciplinary Committee hears complaints brought pursuant to article 4.201 (former article 4101).

The Bourse maintains a list of persons eligible to sit on a Disciplinary Committee. This list and any change thereto must be approved by the Special Committee.

The list consists of:

  1. individuals:
    1. who are directors, officers or partners of approved participants; or
    2. who are retired from the securities industry and who were previously directors, officers or partners of an approved participant.
  2. at least two (2) individuals who are related neither to an approved participant nor to the Bourse.

The Disciplinary Committee is comprised of three persons named by the Vice-President, Legal Affairs (Derivatives) who must select two of them among the persons mentioned in a) or among the members of the Special Committee, and one among the persons mentioned in b).

Rules and Policies Committee

This Committee is composed of three members of the executive committee of the Bourse and has the mandate to approve any regulatory amendment proposal concerning trading rules.

Rules and Policies Committee Charter