Notice of Commission Approval – Amendments to MFDA Policy No. 3 – Handling Client Complaints – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

The Ontario Securities Commission approved amendments to MFDA Policy No. 3 on handling client complaints. In addition, the Alberta Securities Commission, Nova Scotia Securities Commission and Saskatchewan Financial Services Commission approved; and the British Columbia Securities Commission did not object to the amendments. The amendments to MFDA Policy No. 3 establish additional reporting requirements for MFDA Members or Approved Persons on customer complaints. The amendments also prohibit direct settlement between Approved Persons and clients made without the Member's knowledge. A copy and description of these amendments were published on July 11, 2003 at (2003) 26 OSCB 5414. A summary of the public comments received is contained in Chapter 13 of this Bulletin.