Governance and Structure

The Regulatory Division's governance and structure are designed to ensure its independence, given the status of the Bourse as a for-profit corporation. For example:

  • due regard is given to the preservation of the independence of the self-regulatory function of the Bourse through the Division and to its obligations to investors and the general public;
  • the Bourse does not take any action that would interfere with the effect of any decisions by the Bourse Self-Regulatory Oversight Committee (the "Self-Regulatory Oversight Committee") relating to its regulatory functions (including disciplinary matters) or that would interfere with the ability of the Division to carry out its responsibilities under the Bourse's Recognition Order; and
  • if the Division becomes aware of or has in its possession confidential information pertaining to the self-regulatory function of the Bourse, it arranges to keep this information confidential.

The structural and governance standards put in place for the Division are in compliance with the provisions of the Bourse's Recognition Order and with the Rules of the Bourse relating to the Division and the Self-Regulatory Oversight Committee. These structural standards include the following:

  • the Division operates as a separate and independent business unit of the Bourse. Its financial budget as well as its financial results are separated from those of the Bourse. Its operations are self-funded and are carried on a not-for-profit basis;
  • the Division is under the oversight of the Self-Regulatory Oversight Committee. This committee is nominated and appointed by the Board of Directors of the Bourse; and
  • the Self-Regulatory Oversight Committee must be composed of at least two-thirds of persons who are independent based on the independence criteria set out in the Recognition Order.