Notice of Coming into Effect – Memorandum of Understanding regarding the Oversight of the MFDA Investor Protection Corporation (MFDA IPC)

On October 22, 2020, the Commission published the amended memorandum of understanding (MOU) regarding the oversight of the MFDA Investor Protection Corporation (MFDA IPC) with Alberta Securities Commission; British Columbia Securities Commission; Manitoba Securities Commission; Financial and Consumer Services Commission (New Brunswick); Nova Scotia Securities Commission; Prince Edward Island Office of the Superintendent of Securities; and Financial and Consumer Affairs Authority of Saskatchewan (together with the Commission, the Approving Regulators).

The amended MOU came into effect on January 1, 2021 pursuant to section 143.10(4) of the Securities Act (Ontario).

The amendments to the MOU streamline and harmonize the MFDA IPC oversight regime in order to make it more consistent with the current practices and to provide for more consistency between the regulatory approach to CIPF and the approaches to other entities overseen by the Approving Regulators.