Committees of the Board and Other CommitteesThe Conduct Review and Corporate Governance Committee

Duties and Responsibilities

It has the following powers, in addition to revision and examination duties, meetings, and more:

• Requires management to establish procedures that comply with Part XI of the Insurance Companies Act (Canada)
• Reviews those procedures and their effectiveness by ensuring that the insurance companies are complying with Part XI of the Insurance Companies Act (Canada)
• Reviews the practices of the insurance companies to ensure that any transactions with related parties of the insurance companies that may have a material effect on the stability or solvency of the insurance companies are identified

Governance

At least once a year, the Committee meets privately with the Chief Compliance Officer and the Local Compliance Officers. The Committee meets two times a year. The members of the Committee also meet without the presence of management.