Governance


The governance and structure of ISITC is defined in the by-laws


Board of Directors

ISITC is governed by the Board of Directors. The Board meets monthly via conference call, or in person at the quarterly meetings. The Board comprises of 20 individuals, 15 from General Member firms, and 5 from Associate Members. Each Board member is allowed to serve up 3 terms of three years.

The Chair is the President and CEO of ISITC and presides at all Board Meetings. All Officer positions have a two year term limit.

There is a succession between the chairs so that at the end of the second year, the Chair becomes the Immediate Past Chair, the Vice Chair becomes the Chair, the Second Vice Chair becomes the Vice Chair, and a new Second Vice Chair is chosen from the remaining members of the Board. There are no such restrictions on the Secretary and Treasurer positions.


Officers

There are 6 elected Officer positions on the Board:

  • Chair. The President and CEO of ISITC and presides at all Board Meetings
  • First Vice Chair. Succeeds to Chair
  • Second Vice Chair. Succeeds to First Vice Chair
  • Treasurer. Chairs the Finance/Audit Committee
  • Secretary
  • Immediate Past Chair. Chairs the Nominating Committee
Board Committees

There are four standing committees of the Association as follows:

  • Nominating Committee, Responsible for the Board election process
  • Finance/Audit Committee, Responsible for the budget and oversight of the annual audit
  • Education Committee, Responsible for the scholarship program
  • Marketing Committee, Responsible for event planning
Membership

There are four types of members:

  • General Members - are typically one of three broadly defined constituencies:
        o Broker/Dealers
        o Global Custodians
        o Investment Managers
  • Associate Members - are firms that are not regulated financial entities, but service the financial industry in various capacities including:
        o Software Vendor
        o Market Utility
  • Honorary Members - Elected by the Board, individuals who have rendered exceptional service to ISITC or the securities industry.
  • Individual Members - An individual not affiliated with a firm that is eligible to be a General or Associate Member.
Steering Committee

All General and Associate Member firms are entitled to nominate a primary and an alternate voting delegate. These delegates are collectively referred to as the Steering Committee. Steering Committee members have an important role within the ISITC organization.


Working Groups

ISITC is organised around several Working Groups. Each group is led by two or three Co-Chairs who are responsible for coordinating the meetings, setting the agendas, publishing minutes. Each group is also assigned to an Executive Sponsor on the Board of Directors.


Industry Forums

These forums meet to discuss issues specific to the constituent communities. Each Forum is also led by a group of Co-Chairs who are responsible for the meetings, setting the agendas, publishing minutes of the Forum meetings. All members are entitled to participate in any forum regardless of their affiliation.


To view the ISITC Conflict of Interest Policy, please click here.

To view the ISITC Whistleblower Policy, please click here.

To view the 2010 ISITC Annual Business Report, please click here.