Notice of BCSC Non-Objection to Proposed Amendments to Section 35 of MFDA By-law No. 1 – No Action Against the MFDA Investment Protection Corporation


View PDF of Blackline Amendments to Section 35 of MFDA By-law No. 1 PDF
View PDF of Summary of Public Comments PDF

On January 4, 2010, the BCSC did not object to the MFDA's proposed amendments to Section 35 of MFDA By-law No. 1 - No Action Against the MFDA Investment Protection Corporation. 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 provide protection to the Investment Protection Corporation (the IPC) and its directors, officers, employees and agents from any action by a member, approved person or any other person subject to the jurisdiction of the MFDA.  The amendments also provide for the terms of the relationship between the MFDA and IPC and between MFDA members and the IPC.

The BCSC published the amendments for comment on its website on June 26, 2009 for a 90-day comment period.  The MFDA received four comment letters.

The MFDA summarized the comments it received on the revised proposal and provided responses. We attach a copy of the summary and MFDA responses, as well as a blacklined copy of Section 35 of MFDA By-law No. 1 showing the amendments.


February 19, 2010


Ref:  Proposed amendments to section 35 of MFDA By-law No. 1 - No Action against the Corporation

This Notice may refer to other documents.  You can find these documents at the B.C. Securities Commission public website at www.bcsc.bc.cain the section Securities Law & Policy: Policies & Instruments.