Notice of BCSC Non-Objection to Proposed Amendments to MFDA Rule 2.2.5 (Relationship Disclosure), Rule 2.4.4 (Transaction Fees or Charges) and Rule 5.4.2 (Trade Confirmations–Automatic Payment Plans)


View pdf of Notice of BCSC Non-Objection

As of May 21, 2014, the BCSC and the MFDA’s other recognizing regulators1 did not object to or approved2 proposed amendments to Rule 2.2.5 (Relationship Disclosure), Rule 2.4.4 (Transaction Fees or Charges) and Rule 5.4.2 (Trade Confirmations – Automatic Payment Plans).

The MFDA’s proposed amendments harmonize those rules with the Client Relationship Model Phase 2 amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations that will come in force on July 15, 2014.

The BCSC published the proposed amendments for comment on its website on October 10, 2013 for a 60-day comment period. There were no comment letters.

May 29, 2014

Ref: Request for Comment: Proposed Amendments to MFDA Rules 2.2.5 (Relationship Disclosure), 2.4.4 (Transaction Fees or Charges) and 5.4.2 (Trade Confirmations - Automatic Payment Plans)

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1 Alberta Securities Commission, Financial and Consumer Affairs Authority of Saskatchewan, Manitoba Securities Commission, Ontario Securities Commission, Financial and Consumer Services Commission of New Brunswick, Nova Scotia Securities Commission and Prince Edward Island Office of Superintendent of Securities.
2 Non-objection and approval are the different ways in which the recognizing regulators express their decisions after reviewing proposed MFDA rules.