MFDA Staff Notices

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MFDA Staff Notices are intended to assist Members and their Approved Persons in the interpretation, application of and compliance with MFDA By-laws and Rules. Notices set out MFDA staff’s interpretation of how to comply with requirements under MFDA By-laws and Rules. Unlike MFDA By-laws and Rules, MFDA Staff Notices are not prescriptive and are intended to provide guidance only. Members may adopt an approach to complying with a requirement under a MFDA By-law or Rule which differs from staff’s interpretation as set out in an MFDA Staff Notice provided such an approach fully satisfies the principle and objective of the By-law or Rule. As non-binding instruments, MFDA Staff Notices are not subject to the approval of the MFDA Board of Directors or the recognizing securities commissions, however, all MFDA Staff Notices are referred to the MFDA Policy Advisory Committee to obtain industry input before issuance and may, depending on the nature of the subject matter, be posted on the MFDA website for wider stakeholder comment. When MFDA Staff Notices are posted for comment, individual comment submissions will be made publicly available on the MFDA’s website together with a summary of the submissions and the response of MFDA staff.

Questions regarding any aspect of our Rule Book should be directed to Membership Services via e-mail at membershipservices@mfda.ca, or via telephone at 416-361-6332 or 1-888-466-6332.

No.DateTitle
MSN-0085September 5, 2018MFDA Member Intermediary Arrangements
MSN-0084February 26, 2016Advance Instructions for Account Rebalancing
MSN-0083November 25, 2014Account Statement Disclosure Respecting MFDA IPC Coverage
MSN-0082September 12, 2013Branch Supervision
MSN-0081February 13, 2013Sale of Principal Protected Notes by Approved Persons of MFDA Members
MSN-0080April 16, 2012Payment of Interest on Client Cash Held in Trust
MSN-0079March 4, 2011Approved Person Transfers
MSN-0078February 22, 2011
(Updated February 19, 2015)
MFDA Rules 2.4.4 (Transaction Fees or Charges) and 5.1(b)(iv) (Requirement for Records)
MSN-0077December 7, 2010Approved Person Proficiency Requirements
MSN-0076December 3, 2010Performance Reporting (suspended March 4, 2013)
MSN-0075December 3, 2010Relationship Disclosure
MSN-0074April 6, 2010
(Updated May 19, 2010)
Leverage Risk Disclosure
MSN-0073April 5, 2010
(Updated October 16, 2015)
Complaint Handling – MFDA Policy No. 3
MSN-0072March 29, 2010Payment of Commissions to Unregistered Corporation
MSN-0071February 10, 2009
(Updated March 4, 2013)
Referral Arrangements With Other Securities Registrants
MSN-0070May 12, 2008Misleading Communications Regarding Leverage
MSN-0069April 14, 2008
(Updated February 22, 2013)
Suitability
MSN-0068March 20, 2008Servicing of Client Accounts in Transition
MSN-0067November 14, 2007Stealth Advising
MSN-0066October 31, 2007
(Updated January 26, 2017)
Signature Falsification
MSN-0065October 4, 2007
(Updated March 4, 2013)
Excessive Trading
MSN-0064August 22, 2007
(Updated March 4, 2013)
Maintaining Evidence of Disclosure
MSN-0063June 18, 2007Extension to Effective Date of Acceptable Securities Locations Requirement (withdrawn March 4, 2013)
MSN-0062May 24, 2007
(Updated March 4, 2013)
Exempt Securities of Non-Arm's Length Issuers
MSN-0061February 14, 2007Member Obligations Regarding Outsourcing
MSN-0060January 18, 2007Penalty Guidelines
MSN-0059December 20, 2006Complaint Handling Obligations (replaced by MSN-0073)
MSN-0058December 14, 2006
(Updated March 4, 2013)
Acceptable Securities Locations
MSN-0057December 5, 2006
(Updated February 6, 2013)
Joint Regulatory Notice on the Role of Compliance and Supervision
MSN-0056October 23, 2006Business Continuity Planning
MSN-0055July 6, 2006Undivided Interests in Land
MSN-0054June 22, 2006
(Updated March 4, 2013)
Conflicts of Interest – MFDA Rule 2.1.4
MSN-0053December 29, 2005Obligation of Members to Communicate Regulatory Information to Approved Persons and Relevant Employees
MSN-0052December 22, 2005
(Updated March 4, 2013)
MFDA Financial Questionnaire and Report Basis of Presentation Note Disclosure
MSN-0051December 22, 2005
(Updated March 4, 2013)
Capital Provisions for Unresolved Differences in Nominee Name Assets
MSN-0050December 22, 2005Related Member Guarantees (withdrawn March 4, 2013)
MSN-0049December 5, 2005Charitable Donation Programs
MSN-0048October 31, 2005Know-Your-Product
MSN-0047October 3, 2005Personal Financial Dealings with Clients
MSN-0046September 29, 2005Out of Province Registration – Multilateral Instrument 11-101 – Principal Regulator System (withdrawn March 4, 2013)
MSN-0045September 19, 2005Joint Representative Codes
MSN-0044July 6, 2005Member Obligations Regarding Service Providers
MSN-0043July 5, 2005
(Updated March 4, 2013)
Referral Arrangements in Respect of Specific Securities
MSN-0042June 16, 2005Limited Trading Authorizations and Intermediary Accounts
MSN-0041June 8, 2005
(Updated March 4, 2013)
Automatic Conversion of Deferred Sales Charge to 0% Front End Load Units Without Client Knowledge or Consent
MSN-0040May 20, 2005
(Updated March 17, 2016)
Outside Activity
MSN-0039April 26, 2005Implementation Date for Revised Limited Trading Authorization for New Accounts (Individual and Joint)
MSN-0038April 15, 2005Revised Limited Trading Authorization Form and Guidelines for Individual and Joint Accounts
MSN-0037March 16, 2005Compliance Responsibilities
MSN-0036December 21, 2004MFDA Access to Information – Service Arrangements and Introducing/Carrying Arrangements
MSN-0035December 10, 2004
(Updated March 4, 2013)
Recording and Maintaining Evidence of Client Trade Instructions
MSN-0034November 30, 2004Joint Regulatory Notice – Update to Joint Service and Omnibus Arrangements Between IDA and MFDA Members
MSN-0033November 22, 2004
(Updated March 4, 2013)
Websites of Approved Persons of MFDA Members
MSN-0032November 22, 2004
(Updated March 4, 2013)
MFDA Rule 1.1.7 – Use of Business, Style or Trade Names by Members and Approved Persons
MSN-0031October 29, 2004
(Updated January 19, 2017)
Control or Authority over the Financial Affairs of a Client – Rule 2.3.1
MSN-0030September 20, 2004Referral Arrangements (withdrawn March 4, 2013)
MSN-0029June 11, 2004Joint Regulatory Notice – Joint Service and Omnibus Arrangements Between IDA and MFDA Members
MSN-0028May 21, 2004Out of Province Registration (Expiration of Transition Period) (withdrawn March 4, 2013)
MSN-0027March 29, 2004Notification of Termination of Approved Persons (withdrawn March 4, 2013)
MSN-0026February 27, 2004Transition Periods (withdrawn March 4, 2013)
MSN-0025February 24, 2004Suitability Obligations for Unsolicited Orders
MSN-0024February 24, 2004
(Updated April 9, 2018)
Portfolio Summaries
MSN-0023December 19, 2003Late Trading and Market Timing
MSN-PrivacyDecember 3, 2003Joint Regulatory Notice on Federal and Provincial Privacy Legislation
MSN-0022October 29, 2003Out of Province Registration (withdrawn March 4, 2013)
MSN-0021October 23, 2003
(Updated March 4, 2013)
Late Filing Fees
MSN-0020October 21, 2003Client Complaint Information (replaced by MSN-0073)
MSN-0019May 5, 2003
(Updated March 4, 2013)
Member Resignations and Reorganizations
MSN-0018April 17, 2003Extension of Certain Transition Periods (withdrawn March 4, 2013)
MSN-0017March 28, 2003Transfer of Client Accounts
MSN-0016January 23, 2003
(Updated June 8, 2020)
Electronic Signatures
MSN-0015January 23, 2003Electronic Delivery (withdrawn March 4, 2013)
MSN-0014October 2, 2002Supervision Requirements for Licensed Assistants at Branch Offices
MSN-0013July 12, 2002
(Updated March 4, 2013)
Undertaking Regarding Retractable Preferred Shares
MSN-0012April 5, 2002Revised Limited Trading Authorization Form and Guidelines (replaced by MSN-0038 and MSN-0039)
MSN-0011November 28, 2001Agency Agreements
MSN-0010November 12, 2001Amendments to Limited Trading Authorization Form and Guidelines (replaced by MSN-0038 and MSN-0039)
MSN-0009October 1, 2001
(Updated March 4, 2013)
Dual Occupations – Selling Deposit Instruments and Providing Non-Securities-Related Financial Planning Services
MSN-0008March 16, 2001Policies and Procedures Manual
MSN-0007March 16, 2001Limited Trading Authorizations (replaced by MSN-0038 and MSN-0039)
MSN-0006March 16, 2001Borrowing Money to Buy Securities (Leveraging) (replaced by MSN-0074)
MSN-0005March 16, 2001Financial Questionnaire and Report – Related Transition Periods (withdrawn March 4, 2013)
MSN-0004March 16, 2001Member Fee Guidelines (withdrawn March 4, 2013)
MSN-0003March 16, 2001
(Updated March 4, 2013)
Introducing/Carrying Dealer Arrangements
MSN-0002May 15, 2001Payment of Commissions to Non-Registered Entities (replaced by MSN-0072)
MSN-0001March 16, 2001Transition Periods (withdrawn March 4, 2013)