Notice of Commission Approval – Proposed Amendments to MFDA Rule 2.3.1 – Power of Attorney/Limited Trading Authorization – Mutual Fund Dealers Association of Canada (MFDA)

The Ontario Securities Commission approved proposed amendments to MFDA Rule 2.3.1 regarding power of attorney/limited trading authorization. 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 proposed amendments. The proposed amendments will allow Approved Persons to hold a general power of attorney over the accounts of family members provided certain compliance controls are met. A copy and description of these amendments were published on July 11, 2003 at (2003) 26 OSCB 5407. Based on the public comments received, the MFDA decided to include into Rule 2.3.1 the prescribed compliance controls, which were described in the MFDA Notice that was published on July 11, 2003. The MFDA's summary of public comments and response, together with the revised amendment to Rule 2.3.1, are contained in Chapter 13 of this Ontario Securities Commission Bulletin.