Notice of Commission Approval – Amendments to Section 24.3 of MFDA By-law No. 1 – Suspensions in Certain Circumstances – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

 
The Ontario Securities Commission has approved the MFDA's proposal to amend Section 24.3 of MFDA By-law No. 1 regarding suspensions in certain circumstances. In addition, the Alberta Securities Commission, Manitoba Securities Commission, New Brunswick 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 expands the circumstances in which the MFDA can bring applications against Members and Approved Persons who have acted inappropriately.

The MFDA's proposal was published for comment on October 27, 2006 at (2006) 29 OSCB 8561. Some nonmaterial changes have been made to the MFDA's proposal since the time it was originally published. The MFDA has summarized the comments it received on the proposal and provided responses. A copy of the summary and MFDA response, together with a blacklined version of the approved amendments, are being published in Chapter 13 of this Bulletin.