Notice of BCSC Non-Objection to Proposed Housekeeping Amendments to MFDA Rule 3 – Financial and Operations Requirements

View PDF of Housekeeping Amendments to MFDA Rule 3 PDF

On August 15, 2008, the BCSC did not object to the MFDA's proposed housekeeping amendments to its Rule 3 - Financial and Operations Requirements.  The Alberta Securities Commission, the Saskatchewan Financial Services Commission, the Manitoba Securities Commission, the Ontario Securities Commission, the New Brunswick Securities Commission and the Nova Scotia Securities Commission have approved the amendments.

The amendments clarify, update and address minor inconsistencies between terms used in the Rule and terms used in other contexts.  They also remove Rule 3.5.3, which contemplated that an MFDA investor protection plan may cover two related companies that were not both subject to oversight by the MFDA. This rule is no longer necessary because the MFDA Investor Protection Corporation only offers coverage to members of the MFDA. 

A copy of the amendment is attached.

September 26, 2008