Notice of Commission Approval – Housekeeping Amendments to MFDA Policy No. 1 – New Registrant Training and Supervision – Mutual Fund Dealers Association of Canada (MFDA)

 
The Ontario Securities Commission has approved amendments to MFDA Policy No. 1 – New Registrant Training and Supervision. 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 clarify that a branch manager must pre-approve all new accounts for newly registered salespersons before any trade is processed in the account.

The amendments are housekeeping in nature. A description and a copy of the amendments are contained in Chapter 13 of this OSC Bulletin.