Responsibility for corporate governance rests with the Board of Directors of our parent company, Maple Financial Group Inc., a company incorporated under the laws of the province of New Brunswick. The Board is appointed by the shareholders at the Company’s annual meeting. The Board appoints the officers of the parent company, one of whom, the President, is also a member of the Board. The Audit Committee of the Board is responsible to the shareholders for the integrity of the accounts of all companies in the group.

The Board of the parent company also appoints the directors and officers of the subsidiary companies in North America and Europe, meeting the regulatory requirements of the local jurisdiction in each case. Each local board is responsible for ensuring that the corporate governance of its company meets all local regulations and standards. There is also a group oversight function within the parent company that monitors corporate governance performance across the Company.