If your firm is an MFDA member, the regulator is lending its ear to hear about your challenging issues.
Specifically, the MFDA is launching an outreach program to receive input from member firms about such things as the impact of regulatory requirements, where additional guidance is needed and other issues unique to particular operations or business models. The MFDA has outlined its new program in a bulletin.
The program’s first step involves contacting members directly about providing feedback on various issues and about their preferences for the communication process (such as focus groups, surveys, meetings and so on).
After contacting members, the MFDA says in the bulletin that it will conduct consultations “over several months” on issues identified.
The self-regulatory organization says it “hopes to receive input on issues important to members of all sizes and business models.” Further, it will contact industry associations to solicit input on regulatory initiatives.
Outreach for tech, investors
Innovation outreach and investor outreach are also part of the MFDA’s new program.
As part of innovation outreach, the MFDA says it encourages members to proactively collaborate with MFDA staff to ensure successful implementation of new technology.
“Members who would like to provide MFDA staff with a demonstration or who would like to discuss their plans to implement new technology are invited to contact their compliance manager to make the necessary arrangements,” says the bulletin.
The MFDA also plans to broaden the scope of investors and investor advocates with whom it consults. And it will continue to develop and publish tools, guides and web content to increase investor understanding.
Read the full bulletin.