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 and comment before issuance.

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MSN-0063 June 18, 2007 Extension to Effective Date of Acceptable Securities Locations Requirement (withdrawn March 4, 2013)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