Notice of Commission Approval – Amendment to MFDA Rule 2.8.3 - Rates of Return – Mutual Fund Dealers Association of Canada (MFDA)

The Ontario Securities Commission approved amendments to MFDA Rule 2.8.3 regarding rates of return. 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 amendment. The proposed amendment clarifies that, when a client account or group of accounts were open for less than twelve months, the rate of return showing on any client communication from an MFDA member firm must be the total rate of return since account opening. A copy and description of these amendments were published on July 11, 2003 at (2003) 26 OSCB 5458. No comments were received.