Governance

The Governing Bodies of the Association are:

  • 1. The General Meeting
  • 2. The Board of Directors

General Meeting

The General Meeting is the only competent body for dealing with the following specific matters:

  • 1. Election and removal of the members of the Board of Directors.
  • 2. Election and removal of the Chairman and one or two Vice-Chairmen.
  • 3. Discharge of the Directors and Auditor(s).
  • 4. Approval of the Financial Statements, submitted by the Board of Directors.
  • 5. Appointment and fixing of the remuneration of the Auditors.
  • 6. Decision on the amendment of the Articles of Association, and;
  • 7. Decision on the dissolution of the Association

Board of Directors

The Association will be governed by a Board of Directors. The Board of Directors is vested with the broadest powers to perform all acts of administration and management of the Association that are not allocated to the General Meeting. The members of the Board of Directors are elected by the General Meeting.

Each Affiliate may be represented by one person from its own body at the Board of Directors. Each member of the Board of Directors shall hold a term of office of three years after which such a member may be re-elected. There shall be no limit to the number of consecutive terms a Director can serve.

The Standards and Qualifications Committee (SQC)

The Standards and Qualifications Committee (SQC) is a self-organizing committee under the supervision of the Board of Directors and its role will be comprised of, among other things: performing due diligence of the application from a prospective Member in relation to educational and examinations issues; setting and maintaining the standards of competence for the EFPA qualifications; establishing and maintaining of examination standards; establishing and maintaining continuing education standards for National Affiliate Continuing Education Programs; making recommendations respecting the accreditation of National Affiliates qualification standards and continuing education standards; accrediting any non-EFPA qualifications which are the subject of agreements made between EFPA and third parties; conducting research in the financial advice sector on matters of interest to the EFPA Board of Directors; and undertaking periodic review and update of the EFPA Code of Ethics as required by the Board of Directors.