Canadian Securities Regulators Release MFDA Oversight Review Report

Vancouver – The Canadian Securities Administrators (CSA) today released the Oversight Review Report on the performance of the Mutual Fund Dealers Association of Canada (MFDA). 

The participants in this coordinated review were from the seven provincial securities regulators that recognize the MFDA: the Alberta Securities Commission, British Columbia Securities Commission (BCSC), Manitoba Securities Commission, New Brunswick Securities Commission, Nova Scotia Securities Commission, Ontario Securities Commission and Saskatchewan Financial Services Commission. 

The report outlines CSA staff’s findings and identifies areas for improvement in various functional areas of the MFDA. It also includes the MFDA’s responses to the report’s recommendations and CSA staff’s evaluation of, and intended follow-up to, those responses. 

The BCSC has announced the continuation of a hearing concerning governance issues at the MFDA. As a result, the oversight report does not include findings on the governance of the MFDA. The CSA will release a separate report on governance following the hearing. 

To view the report, visit the participating CSA members’ websites. 

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. 

For more information:

Ken Gracey
British Columbia Securities Commission

Mark Dickey
Alberta Securities Commission

Ainsley Cunningham
Manitoba Securities Commission

Barbara Shourounis
Saskatchewan Financial Services Commission

Robert Merrick
Ontario Securities Commission

Wendy Connors-Beckett
New Brunswick Securities Commission
506 643-7745

Shirley P. Lee
Nova Scotia Securities Commission