Notice of Commission Approval – Housekeeping Amendments to MFDA Form 1 – Financial Questionnaire and Report – Mutual Fund Dealers Association of Canada (MFDA)

The Ontario Securities Commission has approved amendments to the MFDA Form 1, Financial Questionnaire and Report. In addition, the Alberta Securities Commission, the New Brunswick Securities Commission, the Nova Scotia Securities Commission and the Saskatchewan Financial Services Commission have approved, the British Columbia Securities Commission has not objected to, and The Manitoba Securities Commission has not disapproved of, the amendments.

The amendments reflect the requirements of section 5600 in the Handbook of the Canadian Institute of Chartered Accountants. More specifically, when auditors are engaged to report on financial statements prepared using a basis of accounting other than GAAP, they must modify their standard Auditor's Report to disclose this fact to the financial statement users. The amendments also require Members to disclose revenue earned and referral fees separately in Statement D of the Financial Questionnaire and Report.

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