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IFRSF Trustees' search for a new Chairman and other appointments

Date recorded:

Mr Fujinuma reported that the search process being used for the IFRSF Chairman's position had been communicated to the Monitoring Board, along with the proposed job specification and timeline. The Trustees hoped that a new Chairman could be appointed in July. Other Trustee appointments were also in consideration. In 2011, nine Trustees' terms came up for renewal or appointment. Three were eligible for re-appointment, leaving six vacancies.

Mr Barnier noted that the process surrounding the IFRSF Chairman's (and Trustees') appointments was very important for Europe (the European Commission, the European Parliament and Member States), and the Monitoring Board expected to be consulted and kept informed throughout the process. In particular, the Monitoring Board would like to see a list of 'all candidates' (whether this means 'all'; the 'long list' or the 'short list' was not clear).

Mr Fujinuma assured the Monitoring Board that they would be consulted pro-actively by the Trustees.

An IOSCO representative noted that participants in the Kuala Lumpur roundtable (in particular) had expressed a desire for greater transparency around Trustee appointments generally.

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