|
|
Charter
Printer-Friendly Version
- NAME
The name of the organization shall be the International Forum for Investor Education (IFIE).
- OBJECTIVES
The primary objective of IFIE is to improve the global standard of investor education in order to help investors in all financial markets to better understand the risks and opportunities associated with various types of investments and the process of investment.
- BUSINESS ACTIVITIES
To accomplish its objective, IFIE shall be committed to:
- Serving as a forum for the exchange of information among providers of investor education operating in different jurisdictions;
- Establishing and promoting best practices for investor education on a global basis; and,
- Encouraging the establishment of comprehensive investor education programs.
- MEMBERSHIP CATEGORIES
IFIE members may belong to one of three membership categories: (1) Full Members, who have full voting rights; (2) Observers, who do not have voting rights; and (3) Umbrella Organizations, whose members have a right to join IFIE. All membership categories are paying memberships.
Full members are defined as organizations, associations or educators, both non profit and commercial with a mandate for or an active interest in investor education. Primary market regulators with a mandate for (or an active interest in) investor education that share commitment to the mission of IFIE may or may not choose to be voting members of IFIE. (However, the percentage of total votes contributed by primary market regulator members cannot exceed 49 percent.) Observers are organizations – such as some non-voting primary regulators – with an incidental interest in investor education or a limited ability financial or otherwise to participate in IFIE. Observers cannot vote but have all other rights to participate. Umbrella Organizations represent organizations that would otherwise qualify as full members, providing them the right to become full members at a discounted fee. The Umbrella Organization, itself, cannot vote but may attend conferences and participate in member events at member rates.
- MEMBERSHIP FEE
There shall be an annual fee to join IFIE and to remain current.
- APPLICATION PROCEDURE
A prospective member must submit the standard application form to the Secretariat and commit to the IFIE Code of Practice. Payment of the appropriate fee will be required upon acceptance by the Advisory Committee.
- RESIGNATION
The resignation of a member from IFIE shall become effective as soon as the Secretariat receives notice in writing. The Secretariat shall provide notice of any such resignation.
- THE MEMBERSHIP OF IFIE
The membership shall be constituted by all standing full members and is the supreme body of IFIE. It shall have the exclusive power to:
- Amend or change the Charter;
- Decide on policy and other issues brought before it by the Advisory Committee and on issues raised by full members and approve resolutions to that effect;
- Approve a candidate roster of officers as presented to it by the Advisory Committee;
- Approve membership in the Advisory Committee;
- Approve the annual accounts and grant discharge to the Advisory Committee;
- Amend or change the annual membership fee to be paid by the members of IFIE;
- Approve member applications as submitted by the Secretariat.
All the above powers require the support of three quarters of responding IFIE members, assuming no less than 50 percent of eligible members vote. Votes may be cast by proxy, by phone or by mail. In the event of a failure to achieve quorum or a tied vote, a follow-on vote shall be held as soon as feasible.
- GENERAL MEETING
A General Meeting of members of IFIE will be held annually in the last quarter of the calendar year to conduct the work of IFIE as defined in 8 above.
- VOTING, REPRESENTATION, PROXIES
Each Full Member shall have one vote and shall appoint a principal delegate to vote on its behalf. Principal delegates may be changed at any time by written notice from a member to the Secretariat. A Full Member may appoint another Full Member to vote for it as its proxy.
- ADVISORY COMMITTEE
The role of the Advisory Committee is to appoint, review and oversee the activities of the Secretariat, approve the agenda for membership meetings and exercise oversight over the budget. The Advisory Committee shall also recommend to the membership proposals for action on policy issues, an annual business plan, an annual budget, a proposal for the annual membership fees and the fees for membership meetings and any other meetings that members may deem appropriate. The Advisory Committee is also responsible for approving new members, selecting officers and Advisory Committee members for ratification by the membership and for establishing standing or Ad Hoc Committees to accomplish its work.
The Advisory Committee shall consist of seven Full Members and a quorum for a scheduled meeting shall be four members. Based on the established current Advisory Committee membership, in 2010 following the Advisory Committee annual meeting, two current Advisory Committee members shall step down, their names to be selected by lottery or voluntarily; in January 2011, two current Advisory Committee members shall step down, their names to be selected by lottery or voluntarily; in January 2012, any remaining current Advisory Committee members shall step down. All terms for new Advisory Committee members shall be for two years with eligibility for one two year extension, with an option for further extensions based on the need to maintain seven Full Members on the Advisory Committee. Nominations to the Advisory Committee for new Advisory Committee members shall be solicited annually from Full Members and a candidate roster presented to the Advisory Committee prior to the January meeting. The Advisory Committee shall then consider the roster of candidates, the vacancies and other factors and elect, by a majority of all its members, any new members of the Advisory Committee. Such roster of elected Advisory Committee members shall be confirmed by the membership in the next General Meeting.
- IFIE OFFICERS
Every January as needed, the Advisory Committee shall select from among its members, these officers for a two-year term: Chairman, Vice-Chairman, and Secretary/Treasurer. The Chairman, Vice-Chairman, and Secretary/Treasurer shall be eligible for re-election in the next elections for a total of four years or until membership in the Advisory Committee terminates. Any member of the Advisory Committee may stand for election as an officer. Officers are elected by a majority of all Advisory Committee members to be polled in writing prior to the January meeting. The Advisory Committee will recommend to the membership at the following annual General Meeting its slate of proposed officers, with said slate subject to the approval of the membership as defined by this Charter. Upon the written resignation of the Chairman, the Vice-Chairman or Secretary/Treasurer, the Advisory Committee shall as soon as feasible select his or her replacement using the above annual selection procedure.
The Chairman of the Advisory Committee shall chair the General Meeting and meetings of the Advisory Committee and, after agreement by the Advisory Committee on a case-by-case basis as practical, act as a spokesman for IFIE on strategy and policy issues. In the event that the Chairman of the Advisory Committee cannot perform his or her duties as Chairman of the Advisory Committee, the Vice-Chairman of the Advisory Committee or the Director of the Secretariat may perform that function.
The Secretary/Treasurer shall oversee the Secretariat in preparing meeting minutes, monitor the budget and accounts and represent such budgets and accounts to the Advisory Committee and IFIE members.
- EXECUTIVE COMMITTEE
The Executive Committee shall consist of the Officers of IFIE and the Director of the Secretariat and has the authority when in full agreement and a meeting of the Advisory Committee is impractical to expedite the business of IFIE.
- SECRETARIAT
The organizational activities of IFIE will be conducted by its Secretariat.
- BUSINESS YEAR
The business year of IFIE shall begin on January 1 and end on December 31 of the same year.
- TERMINATION
Should a majority of the Advisory Committee members decide to recommend the termination of IFIE, such recommendation shall be presented to the membership at a special meeting to be held within 60 days of said recommendation; following the agreement of three-quarters of responding Full Members with 50 percent representation, IFIE shall thereafter be immediately dissolved.
|
Print this Page