Mutual fund dealers now required to send clients quarterly statements

March 5, 2012

On March 2, the Mutual Fund Dealers Association of Canada (MFDA) announced the adoption of amendments to MFDA Rule 5.3 (Client Reporting), which are now in effect. The amendments, intended to ensure that the frequency of account statement delivery requirements under MFDA rules are consistent with those established under NI 31-103, require mutual fund dealers to deliver a statement to all clients at least once every three months. The amendments were initially proposed in October 2011. For more information, see MFDA Bulletin #0521-P.

DISCLAIMER: This publication is intended to convey general information about legal issues and developments as of the indicated date. It does not constitute legal advice and must not be treated or relied on as such. Please read our full disclaimer at www.stikeman.com/legal-notice.

Stay in Touch with Knowledge Hub