Notice of BCSC Non-Objection to Proposed Amendments to MFDA Rule 1.1.6 – Introducing and Carrying Arrangement
On September 5, 2008, the BCSC did not object to the MFDA’s proposed amendments to Rule 1.1.6 - Introducing and Carrying Arrangement. The Alberta Securities Commission, Saskatchewan Financial Services Commission, Manitoba Securities Commission, Ontario Securities Commission, New Brunswick Securities Commission and Nova Scotia Securities Commission have approved the amendments.
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. The proposed amendments also reduce duplication by allowing carrying dealers to rely on written trade confirmation statements sent by mutual fund managers.
The BCSC published the amendments for comment on its website on May 30, 2008. The MFDA did not receive any comments on the proposal.
We attach a blacklined copy of Rule 1.1.6 showing the amendments.
November 21, 2008
Ref: Request for Comment: MFDA - Rule 1.1.6 - Introducing and Carrying Arrangement