Notice of BCSC non-objection to MFDA's proposed housekeeping amendments to Rule 4 - Insurance

View PDF of Housekeeping Amendments to MFDA Rule 4

On August 15, 2008, the BCSC did not object to the MFDA's proposed housekeeping amendments to its Rule 4 - Insurance. 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 the existing requirements for financial institution bonds and allow for coverage limits under global financial institution bonds to be affected by claims of a holding company of the member, as long as the holding company does not carry on any business or own any investments other than its interest in the member.

A copy of the amendments is attached.

September 26, 2008