Common use of Office Structure Clause in Contracts

Office Structure. The CMR would have an effective executive head office located in Toronto and a nationally integrated executive management team. The executive head office would house the chief regulator and a sufficient number of the executive management team and executive corporate staff of the regulatory division to permit the executive head office, as part of the integrated executive management team with the deputy chief regulators and executive management and executive corporate staff based in Vancouver and the regulatory offices in other major capital markets jurisdictions, to provide the necessary leadership, direction and coordination for the regulatory division of the CMR to deliver effective and responsive securities regulation and to position the CMR as a global regulatory leader exerting commensurate international influence. The CMR would have a regulatory office located in each province that is a Participating Jurisdiction. Notwithstanding section 3.7, the regulatory office in a provincial Participating Jurisdiction would be relocated only with the consent of the responsible Minister of that provincial Participating Jurisdiction. If every province joined the Cooperative System, the CMR would have a regulatory office in each of: • Vancouver; • Calgary; • Regina; • Winnipeg; • Toronto; • Montreal; • Saint Xxxx; • Halifax; • Charlottetown; and • St. John’s. Organization design and culture of the CMR would be guided by the following principles, which would be applied by the board of directors: • Every regulatory office should have staff, expertise and resources that are commensurate with the capital markets activity, and regulatory and enforcement demands of the Participating Jurisdiction. • Each regulatory office should continue to provide the range of services that it does today with local decision making authority within national standards and the employment of current staff in that office would continue. • Each regulatory office should be managed by a director, who should coordinate the delivery of regulatory functions to enable timely and effective responses to the needs of local market participants and investors. The director should ensure that the deputy chief regulator responsible for the province or region is aware of local interests in the development and application of national policy. • Management and staff in each regulatory office should be empowered to make day- to-day decisions on regulatory matters, guided by common interpretations and national standards. • Management and staff from all offices should communicate actively to exchange information about best practices and to consult, and bring specialized skills and knowledge to bear, on novel issues. • Regional and market sector perspectives should be weighed and considered in major policy and operational decisions by including regionally-based staff in developing policy approaches and operating priorities and processes. • The CMR should xxxxxx an environment that helps recruit and retain in all offices talented and qualified staff who will embrace the vision for the organization and work to fulfil its mandate. • The CMR should promote a culture of innovation that values ideas and perspectives from all offices and from other sources (including investors, market participants and other stakeholders) that contribute to delivering better and more cost-effective regulation. This office structure is intended to leverage the expertise in capital markets regulation available across Canada to enhance efficiencies and reduce costs, while remaining responsive to local needs. The provincial regulatory offices would deliver consistent regulation in accordance with national standards in a way that is responsive to the interests of Canada’s investors, regions and market sectors.

Office Structure. The CMR would have an effective executive head office located in Toronto and a nationally integrated executive management team. The executive head office would house the chief regulator Chief Regulator and a sufficient number of the executive management team and executive corporate staff of the regulatory division to permit the executive head office, as part of the integrated executive management team with the deputy chief regulators Deputy Chief Regulators and executive management and executive corporate staff based in Vancouver and the regulatory offices in other major capital markets jurisdictions, to provide the necessary leadership, direction and coordination for the regulatory division of the CMR to deliver effective and responsive securities regulation and to position the CMR as a global regulatory leader exerting commensurate international influence. The CMR would have a regulatory office located in each province that is a Participating Jurisdiction. Notwithstanding section 3.7, the regulatory office in a provincial Participating Jurisdiction would be relocated only with the consent of the responsible Minister of that provincial Participating Jurisdiction. If every province joined the Cooperative System, the CMR would have a regulatory office in each of: • Vancouver; • Calgary; • ReginaXxxxxx; • Winnipeg; • Toronto; • Montreal; • Saint Xxxx; • Halifax; • Charlottetown; and • St. John’s. Organization design and culture of the CMR would be guided by the following principles, which would be applied by the board of directors: • Every regulatory office should have staff, expertise and resources that are commensurate with the capital markets activity, and regulatory and enforcement demands of the Participating Jurisdiction. • Each regulatory office should continue to provide the range of services that it does today with local decision making authority within national standards and the employment of current staff in that office would continue. • Each regulatory office should be managed by a director, who should coordinate the delivery of regulatory functions to enable timely and effective responses to the needs of local market participants and investors. The director should ensure that the deputy chief regulator responsible for the province or region is aware of local interests in the development and application of national policy. • Management and staff in each regulatory office should be empowered to make day- today-to- day decisions on regulatory matters, guided by common interpretations and national standards. • Management and staff from all offices should communicate actively to exchange information about best practices and to consult, and bring specialized skills and knowledge to bear, on novel issues. • Regional and market sector perspectives should be weighed and considered in major policy and operational decisions by including regionally-based staff in developing policy approaches and operating priorities and processes. • The CMR should xxxxxx an environment that helps recruit and retain in all offices talented and qualified staff who will embrace the vision for the organization and work to fulfil its mandate. • The CMR should promote a culture of innovation that values ideas and perspectives from all offices and from other sources (including investors, market participants and other stakeholders) that contribute to delivering better and more cost-cost- effective regulation. This office structure is intended to leverage the expertise in capital markets regulation available across Canada to enhance efficiencies and reduce costs, while remaining responsive to local needs. The provincial regulatory offices would deliver consistent regulation in accordance with national standards in a way that is responsive to the interests of Canada’s investors, regions and market sectors.

Office Structure. The CMR would have an effective executive head office located in Toronto and a nationally integrated executive management team. The executive head office would house the chief regulator Chief Regulator and a sufficient number of the executive management team and executive corporate staff of the regulatory division to permit the executive head office, as part of the integrated executive management team with the deputy chief regulators Deputy Chief Regulators and executive management and executive corporate staff based in Vancouver and the regulatory offices in other major capital markets jurisdictions, to provide the necessary leadership, direction and coordination for the regulatory division of the CMR to deliver effective and responsive securities regulation and to position the CMR as a global regulatory leader exerting commensurate international influence. The CMR would have a regulatory office located in each province that is a Participating Jurisdiction. Notwithstanding section 3.7, the regulatory office in a provincial Participating Jurisdiction would be relocated only with the consent of the responsible Minister of that provincial Participating Jurisdiction. If every province joined the Cooperative System, the CMR would have a regulatory office in each of: •  Vancouver; •  Calgary; • Regina Xxxxxx; •  Winnipeg; •  Toronto; •  Montreal; •  Saint Xxxx; •  Halifax; •  Charlottetown; and •  St. John’s. Organization design and culture of the CMR would be guided by the following principles, which would be applied by the board of directors: •  Every regulatory office should have staff, expertise and resources that are commensurate with the capital markets activity, and regulatory and enforcement demands of the Participating Jurisdiction. •  Each regulatory office should continue to provide the range of services that it does today with local decision making authority within national standards and the employment of current staff in that office would continue. • Each regulatory office should be managed by a director, who should coordinate the delivery of regulatory functions to enable timely and effective responses to the needs of local market participants and investors. The director should ensure that the deputy chief regulator responsible for the province or region is aware of local interests in the development and application of national policy. •  Management and staff in each regulatory office should be empowered to make day- today-to- day decisions on regulatory matters, guided by common interpretations and national standards. •  Management and staff from all offices should communicate actively to exchange information about best practices and to consult, and bring specialized skills and knowledge to bear, on novel issues. •  Regional and market sector perspectives should be weighed and considered in major policy and operational decisions by including regionally-based staff in developing policy approaches and operating priorities and processes. •  The CMR should xxxxxx an environment that helps recruit and retain in all offices talented and qualified staff who will embrace the vision for the organization and work to fulfil its mandate. •  The CMR should promote a culture of innovation that values ideas and perspectives from all offices and from other sources (including investors, market participants and other stakeholders) that contribute to delivering better and more cost-cost- effective regulation. This office structure is intended to leverage the expertise in capital markets regulation available across Canada to enhance efficiencies and reduce costs, while remaining responsive to local needs. The provincial regulatory offices would deliver consistent regulation in accordance with national standards in a way that is responsive to the interests of Canada’s investors, regions and market sectors.