Notice of Commission Approval – Amendments to Section 35 of MFDA By-law No. 1 – MFDA IPC – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

 
The Ontario Securities Commission has approved amendments to section 35 of MFDA By-law No. 1 regarding the MFDA Investor Protection Corporation (MFDA IPC). In addition, the Alberta Securities Commission, the Manitoba Securities Commission, the New Brunswick Securities Commission, the Nova Scotia Securities Commission, and the Saskatchewan Financial Services Commission have approved, and the British Columbia Securities Commission has not objected to, the MFDA's proposal. The amendments extend the protection from actions and proceedings by MFDA Members and Approved Persons to the MFDA IPC. In addition, the amendments codify the relationship between MFDA Members and the MFDA IPC and the obligations of MFDA Members with regard to that relationship.

The proposed amendments were published for comment on June 26, 2009, at (2009) 32 OSCB 5351. Certain non-material changes were made to the MFDA's proposal since its initial publication. A blacklined copy of the amendments, showing the changes from the previously published version, is published at Chapter 13 of this Bulletin, together with the MFDA's summary of the comments received on the proposal and the MFDA's responses to those comments.