A new rule requiring the disclosure of Mutual Fund Dealers Association membership was approved Thursday by various provincial regulators, the MFDA said Thursday.
Securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan approved MFDA Rule 2.12 (Disclosure of MFDA Membership) and MFDA Policy No. 10 (Disclosure of MFDA Membership), which will come into effect at the start of 2019.
The aim of the rule and policy is to create awareness among clients of the MFDA’s regulatory function, the MFDA said in a release.
The rule requires the MFDA logo to be included on account statements and on the member’s website. The policy creates minimum requirements for the disclosure of membership in the MFDA and provides direction on how to use the logo on account statements and on the member’s website.
The rule and policy can be read here.