Canadian Securities Administrators

Canadian Securities Administrators

July 09, 2010 11:00 ET

Canadian Securities Regulators Release MFDA Oversight Review Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2010) - 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.

Contact Information

  • British Columbia Securities Commission
    Ken Gracey
    604-899-6577
    or
    Alberta Securities Commission
    Mark Dickey
    403-297-4481
    or
    Manitoba Securities Commission
    Ainsley Cunningham
    204-945-4733
    or
    Saskatchewan Financial Services Commission
    Barbara Shourounis
    306-787-5842
    or
    Ontario Securities Commission
    Robert Merrick
    416-593-2315
    or
    New Brunswick Securities Commission
    Wendy Connors-Beckett
    506-643-7745
    or
    Nova Scotia Securities Commission
    Shirley P. Lee
    902-424-5441