OSC Staff Notice of Commission Approval – Amendments to MFDA Rule 1.2 (Individual Qualifications) – Mutual Fund Dealers Association of Canada (MFDA)

Market Regulation Document Type
MFDA rule review

The Recognizing Regulators of the Mutual Fund Dealers Association of Canada (MFDA) have approved or not objected to amendments to MFDA Rule 1.2. The objectives of the amendments are to: conform requirements under MFDA Rules to similar requirements under securities legislation; and clarify the application and scope of existing obligations under MFDA Rules with respect of outside activities.

The proposed amendments to MFDA Dealer Member Rule 1.2 were published for comment on June 18, 2015 for a 90 day comment period at (2015) 38 OSCB 5667. Four comment letters were received. A copy of the MFDA proposed amendments, including MFDA’s responses to the comment letters, can be found on our website at http://www.osc.gov.on.ca. The amendments are effective immediately.

In addition, the British Columbia Securities Commission, the Alberta Securities Commission, the Financial and Consumer Affairs Authority of Saskatchewan, the Financial and Consumer Services Commission of New Brunswick, the Manitoba Securities Commission, the Nova Scotia Securities Commission, and the Prince Edward Island Office of the Superintendent of Securities Office did not object to or approved the amendments.