Notice of Commission Approval – Amendments to Section 19.9 of MFDA By-law No. 1 – Hearing Panels – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

 
On July 3, 2007 the Ontario Securities Commission approved the MFDA's proposal to amend Section 19.9 of MFDA By-law No. 1 regarding hearing panels. 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 MFDA's proposal. The MFDA's proposal allows a hearing panel to consist of two members if an industry representative is unable to continue serving on the hearing panel, provided that one of the remaining members is the appointed public representative.

The MFDA's proposal was published for comment on October 27, 2006 at (2006) 29 OSCB 8571. Some immaterial changes have been made to the MFDA's proposal since the time the time it was originally published. The MFDA has summarized the comments received on the proposal and provided responses. A copy of the summary and MFDA response together with a blacklined copy of the MFDA's proposal showing the changes from the previously published version, are being published in Chapter 13 of this Bulletin.