I am pleased to present the MFDA’s 2018 Annual Report. This Report reviews many of the considerable accomplishments of the MFDA over the year ending June 30, 2018 (FY2018).

During FY2018, the Canadian Securities Administrators (“CSA”) conducted its annual on-site risk-based oversight review of the MFDA. This year’s review focussed on the Corporate Governance, Sales Compliance, Finance and Administration and Membership Services areas of the MFDA. I am pleased to report that the Recognizing Regulators did not identify any issues or concerns with the MFDA meeting the relevant terms and conditions of the MFDA’s Recognition Orders in any of the areas reviewed.

In June 2018, the MFDA unveiled its new 2018-2022 Strategic Plan entitled “Achieving Better Outcomes for Canadians”. The five-year Plan establishes strategic objectives and priorities in furtherance of the MFDA’s vision of protecting investors by delivering responsible and effective regulation, strengthening collaboration, knowledge and expertise and promoting investor confidence. With this vision in mind, the MFDA continues to reach out to Canadian investors to better understand their needs including holding regular meetings with investor advocates to discuss issues affecting Canadian investors. Going forward, the MFDA plans to broaden the scope of investor advocates with whom it consults in order to further understand investor concerns. The MFDA also continues to focus on investor education and knowledge, and will be enhancing its investor education resources with content that provides experiential learning with a view to assisting investors in applying the knowledge they receive to their investing decisions.

I would like to thank the members of our hard-working, engaged and committed board of directors for their work over the past year. I am very grateful to all of them for their service, leadership and guidance. In particular, I would like to express our gratitude to Rick Annaert, outgoing Industry Director. Rick first joined the board in 2012, and throughout his years of service as an MFDA Industry Director, we have greatly benefited from his intellect, passion, sound judgment and insight.

On behalf of the Board of Directors, I would also like to thank MFDA management for its effective and invaluable leadership and the MFDA staff for their outstanding efforts and achievements throughout the year in advancing the important work of the MFDA within Canada’s securities regulatory system.

Christopher Nicholls, B.A., LL.B., LL.M., MPA
Chair of the Board