; seal The secretary and seal of the Commission shall be the secretary and seal of each panel of the Commission, each individual commissioner, and each employee board or individual employee exercising functions delegated pursuant to paragraph (1) of this subsection. (d) Meetings Meetings of the Commission shall be held at regular intervals, not less frequently than once each calendar month, at which times the functioning of the Commission and the handling of its workload shall be reviewed and such orders shall be entered and other action taken as may be necessary or appropriate to expedite the prompt and orderly conduct of the business of the Commission with the objective of rendering a final decision in a timely fashion. (e) Managing Director (1) In general The Commission shall have a Managing Director who shall be appointed by the Chair subject to the approval of the Commission. (2) Functions The Managing Director, under the supervision and direction of the Chair, shall perform such administrative and executive functions as the Chair shall delegate. (3) Pay The Managing Director shall be paid at a rate equal to the rate then payable for grade 15 of the pay scale of the Securities and Exchange Commission. 8. Code Council (a) Establishment The Commission shall establish a Code Council that shall develop proposed voluntary or enforceable behavioral codes, technical standards, or other policies for digital platforms through the code process under subsection (e), including with respect to transparency and accountability for algorithmic processes. (b) Membership (1) In general The Council shall consist of 18 members, of whom— (A) 6 shall be representatives of digital platforms or associations of digital platforms, not fewer than 3 of whom shall be representatives of systemically important digital platforms or associations that include systemically important digital platforms