Notice of BCSC non-objection to MFDA information reporting requirements, notification of changes in registration information and consequential amendments (Policy Nos. 3 and 6 and Rules 1.2.5 and 1.2.6
View PDF of Summary of Public Comments Respecting Proposed MFDA Policy 6
View PDF of Mutual Fund Dealers Association of Canada Information Reporting Requirements (Policy No.6) - Blackline
On May 4, 2007, the BCSC did not object to the MFDA's proposal to:
- implement Policy No. 6 - Information Reporting Requirements
- repeal and replace Rule 1.2.5 - Notification of Changes in Registration Information
- amend Policy No. 3 - Handling Client Complaints
- repeal Rule 1.2.6 - Notification of Termination of Approved Persons
The Alberta Securities Commission, Saskatchewan Financial Services Commission, Ontario Securities Commission and Nova Scotia Securities Commission have approved the MFDA's proposal.
The proposal:
- consolidates many MFDA reporting requirements into a single instrument,
- expands the scope of matters that members and approved persons must report, and
- requires electronic reporting of enforcement and compliance information.
The BCSC published the proposal for comment on its website on October 27, 2006. The MFDA has summarized the comments received on the proposal and provided responses. A copy of the summary and MFDA response is attached together with a blacklined copy of the above MFDA proposal showing the changes made from the previously published version.
June 8, 2007