Managing Director

Defined in Rule AU-1.2.9A. A Managing Director is a Director on the Board of a licensee who:

a) Should be fully responsible for the executive management and performance of the licensee, within the framework of delegated authorities set by the Board;
b) Must devote full-time working hours to the licensee; and
c) Must not be employed at any other firm.
Amended: April 2011
Added: April 2010