Notice of Commission Approval – Housekeeping Amendments to MFDA By-law No. 1, Section 8 – For the Protection of Directors, Officers and Others – Mutual Fund Dealers Association of Canada (MFDA)

 
The Ontario Securities Commission approved the amendments to MFDA By-law No. 1, Section 8 regarding the protection of directors, officers and other individuals, such as employees and agents. In addition, the Alberta Securities Commission, Nova Scotia Securities Commission and Saskatchewan Financial Services Commission approved, and the British Columbia Securities Commission did not object to the amendments. The amendments clarify that the indemnification and protection provisions of Section 8 of MFDA By-law No. 1 apply to past and present members of the MFDA Board of Directors, its committees and sub-committees, MFDA committees and sub-committees, officers, employees or agents. The amendments would also extend the indemnification and protection provisions to members of a Regional Council, including a Hearing Panel, a committee or sub-committee. 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.