OSC Staff Notice of Commission Approval – New MFDA Policy No. 8 (Proficiency Standard for Approved Persons Selling ETFs) – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

  
The Recognizing Regulators of the Mutual Fund Dealers Association of Canada (MFDA) have approved or not objected to the new MFDA Policy No. 8. The new policy will establish minimum standards that are intended to ensure that Approved Persons trading ETFs have the education, training and experience that a reasonable person would consider necessary to perform the activity competently.

The proposed new MFDA Policy No. 8 was published for comment on June 30, 2016 for a 90 day comment period. Six comment letters were received. A copy of the MFDA proposed amendments, including the MFDA’s summary of and responses to the comment letters, can be found on our website at http://www.osc.gov.on.ca. The amendments are effective immediately.

In addition, the British Columbia Securities Commission, the Alberta Securities Commission, the Financial and Consumer Affairs Authority of Saskatchewan, the Financial and Consumer Services Commission of New Brunswick, the Manitoba Securities Commission, the Nova Scotia Securities Commission, and the Prince Edward Island Office of the Superintendent of Securities Office did not object to or approved the amendments.