MFDA annual membership fees are equal to the MFDA fee rates multiplied by the average of the Member’s market value of all mutual funds reflected in client accounts (nominee and client name) of a Member located in all of the provinces and territories of Canada except Quebec (“AUA”). MFDA fee rates are established annually by the MFDA Board of Directors.
Membership fees will be pro-rated in the first year of membership based on the date of acceptance into membership. Upon acceptance into membership, the MFDA will calculate and invoice the pro-rated fee by multiplying the fee rate(s) by the AUA reported as of March 31st for the current year.
For subsequent years of membership, membership fees will be based on the average of the Member’s AUA balance at March 31st of the prior year and March 31st of the current year. Annual membership fees, for the period July 1st to June 30th, will be equal to the MFDA fee rate multiplied by the Member’s average AUA
The approved fee rates for the year July 1, 2016 to June 30, 2017 are:
|On the first $500 million of AUA||$83 per million|
|On the next $500 million of AUA||$77 per million|
|On the next $4 billion of AUA||$72 per million|
|On the next $5 billion of AUA||$66 per million|
|In excess of $10 billion of AUA||$62 per million|
A minimum annual fee of $10,000 applies to level 4 dealers and a $3,000 minimum annual fee applies to level 1, 2 and 3 dealers.
MFDA Investor Protection Corporation
|Fee Rate||Minimum Fee|
|Regular Assessment||$6.25 per million dollars of AUA||A minimum fee of $1,750 applies to level 4 dealers and a minimum fee of $500 appplies to level 1, 2 and 3 dealers.|
|Replenishment Assessment||$2.95 per million dollars of AUA||A minimum fee of $850 applies to level 4 dealers and a minimum fee of $250 applies to level 1, 2 or 3 dealers.|