Notice of Commission Approval – Amendments to Section 11 of MFDA By-law No. 1 – Member Approval Process – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

 
The Ontario Securities Commission has approved amendments to Section 11 of MFDA By-law No. 1 regarding the Member approval process. 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 amendments. The amendments streamline and clarify the MFDA Member approval process, with the objective of ensuring that the membership application process remains fair and allows for due process, clarifies who the appropriate decision makers are, and is administratively and procedurally practical and efficient.

The MFDA's proposal was published for comment on September 21, 2007 at (2007) 30 OSCB 8174. Some non-material changes have been made to the MFDA's proposal since the time it was originally published. A blacklined version of the approved amendments are being published in Chapter 13 of this Bulletin.