Managing Director

Defined in Rule AU-1.2.9B. 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
Amended: January 2011
Added: Oct 09