Leadership

Executive Management Team

Headshot Andrew J. Kriegler
Andrew J. Kriegler
President and CEO
Headshot Lucy Becker
Lucy Becker
Vice-President, Public Affairs and Member Education Services
Headshot Claudyne Bienvenu
Claudyne Bienvenu
Vice-President, Québec and Atlantic Canada
Headshot Ian Campbell
Ian Campbell
Chief Information Officer
Headshot Warren Funt
Warren Funt
Vice-President, Western Canada
Headshot Doug Harris
Doug Harris
Vice-President, General Counsel and Corporate Secretary
Headshot Victoria Pinnington
Victoria Pinnington
Senior Vice-President, Market Regulation
Headshot Elsa Renzella
Elsa Renzella
Senior Vice-President, Registration and Enforcement
Headshot Irene Winel
Irene Winel
Senior Vice-President, Member Regulation and Strategy
Headshot Shuaib Shariff
Shuaib Shariff
Senior Vice-President, Finance and Administration

Governance Report

The Recognition Orders set out by the Canadian Securities Administrators (CSA) provide that IIROC’s governance structure and arrangements must ensure fair, meaningful and diverse representation on its Board of Directors and any committees of the Board, including a reasonable proportion of Independent Directors.

IIROC also reviews its governance on an ongoing basis to ensure that there is a proper balance between, and effective representation of, the public interest and the marketplaces, dealers and other entities desiring access to the services provided by IIROC.

Board of Directors

All IIROC Directors are responsible for ensuring that IIROC serves the public interest in protecting investors and market integrity, by articulating and ensuring it meets a clear public interest mandate for its regulatory functions.

Seven of IIROC’s 15 Directors are Independent Directors who are not affiliated with an IIROC member. In addition, the Corporate Governance Committee – which is charged with overseeing IIROC’s governance – is made up entirely of Independent Directors.

We also pay close attention to ensuring that the Dealer Directors on the IIROC Board represent a wide range of dealers. Of our five Dealer Directors, three are from independent firms, two of which are based in Western Canada.

We believe that the IIROC Board is uniquely positioned to act in the public interest to protect investors and market integrity and support healthy capital markets across Canada.

Headshot Andrew J. Kriegler
Andrew J. Kriegler
(Joined November 2014)
President and CEO, IIROC
Toronto, Ontario
Headshot Paul D. Allison
Paul D. Allison, Chair
(Joined October 2013)
Industry Director, Chairman and CEO, Raymond James Ltd.
Toronto, Ontario
Member of Human Resources and Pension Committee
Headshot Catherine Smith
Catherine Smith, Vice-Chair
(Joined September 2012)
Corporate Director (Independent)
Toronto, Ontario
Member of Corporate Governance Committee
Member of Human Resources and Pension Committee

Industry Directors

Headshot Jean-Paul Bachellerie
Jean-Paul Bachellerie
(Joined September 2013)
CEO, PI Financial Corp.
Vancouver, British Columbia
Member of Human Resources and Pension Committee
Headshot Holly A. Benson
Holly A. Benson
(Joined January 2015)
Vice-President, Finance and CFO, Peters & Co. Limited
Calgary, Alberta
Member of Finance, Audit and Risk Committee
Headshot Luc Fortin
Luc Fortin
(Joined January 2018)
President and CEO, Montréal Exchange and Global Head of Trading, TMX Group
Montréal, Québec
Member of Finance, Audit and Risk Committee
Headshot Tim Mill
Timothy Mills
(Joined September 2019)
Senior Vice-President, Treasury Market and Liquidity Risk Management, CIBC
Toronto, Ontario
Member of Finance, Audit and Risk Committee
Headshot Luc Paiement
Luc Paiement
(Joined September 2016)
Executive Advisor, National Bank of Canada
Montréal, Québec
Member of Human Resources and Pension Committee
Headshot Jos Schmitt
Jos Schmitt
(Joined September 2018)
Co-Founder, Director, President & CEO of the NEO Group of companies
Toronto, Ontario
Member of Human Resources and Pension Committee

As noted above, Paul D. Allison (Chair) is an Industry Director.

Independent Directors

Headshot Michèle Colpron
Michèle Colpron
(Joined September 2017)
Corporate Director
Montréal, Québec
Member of Finance, Audit and Risk Committee
Headshot James Donegan
James Donegan
(Joined September 2012)
Corporate Director
Toronto, Ontario
Member of Corporate Governance Committee
Member of Finance, Audit and Risk Committee
Headshot Victoria Harnish
Victoria Harnish
(Joined January 2020)
Corporate Director
Hubbards, Nova Scotia
Member of Finance, Audit and Risk Committee
Member of Human Resources and Pension Committee
Headshot Edward Iacobucci
Edward Iacobucci
(Joined September 2012)
Dean, Faculty of Law, University of Toronto
Toronto, Ontario
Member of Corporate Governance Committee
Headshot Shenaz Jeraj
Shenaz Jeraj
(Joined September 2019)
Chief Information Officer for Capital Region Housing Corporation (Edmonton)
Edmonton, Alberta
Member of Corporate Governance Committee
Member of Finance, Audit and Risk Committee
Headshot Gerry O’Mahoney
Gerry O’Mahoney
(Joined September 2013)
Principal and Founder, Tralee Capital Markets Ltd.
Oakville, Ontario
Member of Corporate Governance Committee
Member of Finance, Audit and Risk Committee

As noted above, Catherine Smith (Vice-Chair) is an Independent Director.

Resigned as Independent Directors

Brian Heidecker
(Joined September 2011)
Corporate Director
Edmonton, Alberta
Member of Corporate Governance Committee
Member of Finance, Audit and Risk Committee

Lucie Tedesco
(Joined September 2018)
Corporate Director
Ottawa, Ontario
Member of Human Resources and Pension Committee
Member of Finance, Audit and Risk Committee

2019-2020 Board Meetings

April 1, 2019 to March 31, 2020 Board Meetings

A total of 28 meetings were held during the fiscal year ended March 31, 2020.
Below is a breakdown of attendance.

DirectorBoard of
Directors
Special
Meeting of
the Board
of Directors
Finance,
Audit
and Risk
Corporate
Governance
Human
Resources
and Pension
Regulatory
Rules Brief
Total
Compensation
$
Paul Allison 6/61/1  5/53/4 
Jean-Paul Bachellerie 6/61/1  5/54/4 
Holly A. Benson 6/61/16/6  4/4 
Michèle Colpron ** 4/61/15/6  3/446,429.95
James Donegan ** 6/61/16/66/65/54/465,605.63
Luc Fortin 6/61/16/6  4/4 
Victoria Harnish ** 2/2N/A2/2 2/21/116,272.06
Brian Heidecker * ** 2/2N/A2/22/2 2/223,652.40
Edward Iacobucci ** 6/61/1 6/6 3/444,280.70
Shenaz Jeraj ** 4/41/14/44/4 3/336,155.82
Andrew Kriegler 6/61/16/66/65/54/4 
Gerry O’Mahoney ** 6/61/16/66/6 4/457,065.00
Timothy Mills 4/40/14/4  3/3 
Luc Paiement 6/61/1  5/54/4 
Jos Schmitt 4/41/1  5/54/4 
Catherine Smith ** 6/61/1 6/65/54/464,228.57
Lucie Tedesco ** 2/2N/A2/2  1/111,848.96

* Director stepped down during the year.

** Only Independent Directors are compensated by IIROC.

Director Compensation

IIROC does not compensate Industry Directors for their participation on IIROC’s Board or on its Committees. IIROC compensates Independent Directors in accordance with the following framework:

Board

Annual retainer – $15,000 per annum

Chair of the Board – an additional $15,000 if the Chair is an Independent Director

Vice-Chair of the Board – an additional $4,000 if the Vice-Chair is an Independent Director

Board meetings of less than two hours in duration – $1,000

Board meetings of two hours or longer – $1,500

Committee

Committee Members – $1,500 per annum

Committee Chairs – $4,000 per annum

Committee meetings of less than two hours in duration – $1,000

Committee meetings of two hours or longer – $1,500

In the event that the location of a Board meeting requires an additional travel day and the Director attends in person, a supplementary travel fee of $1,000 is allowed.

Directors are paid half the compensation of the committee member per diem attendance fee when invited by the Chair of a Board Committee to attend the Committee’s meeting, of which they are not a member.


Board Committee Mandates

Corporate Governance Committee

Recommends candidates eligible to serve on the Board and its committees; reviews IIROC governance principles and practices; identifies and manages potential conflicts of interest; establishes Board self-assessment process; and appoints individuals to the Hearing Committee.

Finance, Audit and Risk Committee

Assists Board in oversight of: accounting and financial reporting processes; qualifications, independence and performance of IIROC’s independent auditor; IIROC’s internal control systems; and IIROC’s risk management processes.

Human Resources and Pension Committee

Ensures IIROC can attract and retain personnel with the appropriate status and experience to achieve its objectives and enhance the professionalism and effectiveness of the organization; assists the Board in its oversight of IIROC’s human resources policies and procedures, benefits and pension plans and with related regulatory compliance.