2018 – 2022 Strategic Plan

The new 2018-2022 Strategic Plan builds upon the accomplishments of our previous 2015-2017 Strategic Plan and articulates the MFDA’s vision, core strategic and operational goals, desired outcomes and key initiatives. Below is a brief overview of our three strategic goals. The 2018-2022 Strategic Plan can be accessed at www.mfda.ca.

Strategic
Goal # 1 1
INNOVATE We support Member innovation that increases efficiencies and/or expands investor choice, while at the same time, meets regulatory requirements.

We will support innovation by:

  • Encouraging Members who intend to implement new technology to proactively collaborate with us
  • Understanding the risks and benefits related to new products, services and technology
  • Assessing our regulatory requirements to ensure they are relevant and applicable to new business models and emerging technologies

Key initiatives include:

  • Engaging in an “Innovation Outreach” plan to encourage discussion and collaboration on the use of new products, services and technology
  • Developing a Cybersecurity Plan to identify risks within the membership and provide information and guidance about threats, breaches and best practices
  • Modernizing Rules to reflect technological innovations and changes to Members operations
Strategic
Goal # 2 2
COLLABORATE We will collaborate with all stakeholders, share valuable information and engage in educational initiatives to enhance professionalism, improve investor outcomes and contribute to regulatory developments.

We will collaborate and educate by:

  • Strengthening advisor proficiencies and professionalism
  • Working with Members to promote a culture of compliance
  • Engaging with stakeholders and other regulators to promote greater harmonization and consistent standards to protect investors
  • Providing tools and resources to promote informed decision making by investors

Key initiatives include:

  • Establishing a Continuing Education requirement for all MFDA advisors
  • Identifying opportunities to share information and coordinate activities with other regulatory bodies
  • Developing new approaches to gather information on current issues impacting seniors and producing guidance, tools and materials for Members and investors
Strategic
Goal # 3 3
UPDATE We will evaluate our regulatory standards and internal processes and ensure a professional and qualified staff to be recognized as an effective, progressive and responsible regulator.

We will be a responsible regulator by:

  • Assessing our regulatory requirements to ensure they continue to be relevant and appropriate
  • Reviewing MFDA operations and processes to ensure cost effectiveness and improved efficiencies
  • Maintaining and attracting expert staff and providing training on emerging risks and industry trends

Key initiatives include:

  • Engaging in research to deliver data-driven regulation focusing on key risk areas
  • Exploring alternatives to improve transparency of costs for mutual fund investors
  • Reviewing the MFDA Rulebook to improve clarity, ease of use and relevance
  • Enhancing core staff competencies
  • Maintaining currency of MFDA internal technology, systems and processes to effectively and securely achieve our regulatory mandate