Notice of Commission Approval – Amendments to MFDA Rule 1.1.6 – Introducing and Carrying Arrangement – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

 
The Ontario Securities Commission has approved amendments to MFDA Rule 1.1.6 regarding the introducing and carrying arrangement. In addition, the Alberta Securities Commission, the Manitoba Securities Commission, the New Brunswick Securities Commission, the Nova Scotia Securities Commission, and the Saskatchewan Financial Services Commission approved, and the British Columbia Securities Commission did not object to the MFDA’s proposal. The amendments allow MFDA members greater flexibility in how they meet their disclosure obligations as introducing and carrying dealers, while continuing to ensure that clients are informed about the role and identity of each dealer. In addition, the amendments reduce duplication by allowing carrying dealers to rely on written trade confirmation statements sent by mutual fund managers.

The MFDA’s proposal was published for comment on May 30, 2008 at (2008) 31 OSCB 5692. No comments were received.