The MFDA has established a Whistleblower Program to receive information from individuals with knowledge or evidence of potential wrongdoing by MFDA Approved Persons or Members, including violations of MFDA By-laws, Rules, Policies or Canadian securities requirements.
The program will assist the MFDA with the early identification of and effective regulatory response to potential fraud and other misconduct, so as to minimize harm or the risk of harm to the public. This advances the MFDA’s mandate to enhance investor protection and strengthen public confidence in the Canadian mutual fund industry.
For individuals wanting to provide information, the MFDA has formed a Whistleblower Team that can be reached directly toll-free at 1-888-466-6332, option #2, or by email at email@example.com. In addition, the MFDA will maintain a dedicated webpage with further information about its Whistleblower Program here.
“The MFDA Whistleblower Program is an important initiative that will facilitate the process for reporting information to the MFDA for Member employees and other individuals who have information relating to potential unethical or illegal activity at an MFDA Member. Under the program, both the whistleblower and the information provided will be treated appropriately by specifically designated staff,” said Mark Gordon, president and CEO of the MFDA.
The Whistleblower Program does not replace the MFDA’s existing investor complaints process.