Notice of Commission Approval - Housekeeping Amendments to IDA By-law No. 2.4 Regarding Membership

THE INVESTMENT DEALERS ASSOCIATION (IDA)

AMENDMENTS TO IDA BY-LAW No. 2.4

REGARDING MEMBERSHIP

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission approved amendments to IDA By-law No. 2.4 regarding Membership. In addition, the Alberta Securities Commission did not disapprove and the British Columbia Securities Commission did not object to the amendments. The amendments require that when the application process for IDA membership is not completed within 6 months, the applicant's $10,000 deposit would be forfeited to the IDA and the applicant would be required to start the application process over. The IDA further revised the proposed amendments, which had been approved by the Board of Directors of the IDA on October 20, 2004, to exclude alternative trading systems applications. The amendments are housekeeping in nature. The description and a copy of the amendments are contained in Chapter 13 of this Ontario Securities Commission Bulletin.