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The MFDA is recognized as a self-regulatory organization ("SRO") by the following securities commissions (collectively, "Recognizing Jurisdictions"):
- Alberta Securities Commission
- British Columbia Securities Commission
- Nova Scotia Securities Commission
- Ontario Securities Commission
- Saskatchewan Financial Services Commission
- New Brunswick Securities Commission
- Manitoba Securities Commission
Under the recognition orders, each of the Recognizing Jurisdictions has imposed terms and conditions on the recognition of the MFDA.
The Recognizing Jurisdictions have adopted local Rules that require mutual fund dealers to become Members of the MFDA. The original Recognition Orders can be viewed by clicking on the following links:
Amendment and Restatement of MFDA Recognition Orders
On October 24, 2003, the MFDA applied to the Recognizing Jurisdictions, which, at the time, did not include New Brunswick and Manitoba, to amend and restate each of the Recognition Orders. The objectives of the amendment and restatement were:
- To reflect changes in the MFDA's governance structure;
- To clarify the MFDA's ability to enter into arrangements with another party to perform certain regulatory functions; and
- To make housekeeping amendments to streamline the current recognition orders.
The original Recognizing Jurisdictions approved the MFDA's application to amend and restate the orders recognizing the MFDA as an SRO, as summarized below:
As the 2003 Amendment and Restatement of Recognition Orders preceded recognition by New Brunswick and Manitoba securities commissions, the Recognition Orders in these jurisdictions already reflect these changes.
The Recognizing Jurisdictions in Ontario, British Columbia, Nova Scotia and Saskatchewan subsequently approved further variations of the Recognition Orders allowing for the extension of the suspension of Rule 2.4.1. In addition, the Manitoba Securities Commission and the New Brunswick Securities Commission suspended Rule 2.4.1 under their Recognition Orders.
Pending SRO Recognition
The MFDA has filed an application for SRO Recognition with the Superintendent of Securities of Newfoundland and Labrador.
Quebec
The MFDA has entered into a Co-operative Agreement with the Autorité des marchés financiers. A copy of that agreement can be viewed by following this link to the Co-operative Agreement.
