The MFDA held its 2019 Annual General and Special Meeting of Members (“AGM”) on November 28, 2019. The following is a summary of the business transacted at the meeting.
1. Election of Public and Industry Directors
At the AGM, Hugh McNabney and Vince Valenti were approved as Public Directors of the Corporation, each to hold office for a three-year term, or until their successors have been appointed. Sonny Goldstein and André Langlois were approved as Industry Directors of the Corporation, each to hold office for a two-year term or until their successors have been appointed.
Effective November 28, 2019, the following individuals are members of the MFDA Board of Directors:
Steven Glover, MBA, FCPA, FCA
Les O’Brien, Q.C.
Hugh McNabney, CPA (Retired)
Barbara Shourounis, LL.B.
Christopher Nicholls, BA, LL.B., LL.M., MPA
Vince Valenti, MBA
Patricia Callon, LL.B., BA (Hons)
Mark Kinzel, BA
Katherine Dudtschak, MBA
André Langlois, FSA, FCIA
Sonny Goldstein, CFP
President & CEO
Mark T. Gordon, LL.B.
Mutual Fund Dealers Association of Canada
Christopher Nicholls, Public Director, was re-appointed Chair and Patricia Callon, Industry Director, was re-appointed Vice-Chair of the Board of Directors.
2. Appointment of Auditors
Members also approved the appointment of Ernst & Young LLP as auditors for the Corporation.
3. Confirmation of Amendments to MFDA By-law No. 1, Rules and MFDA Financial Questionnaire and Report (Form 1)
Members approved proposed amendments to:
- MFDA By-law No. 1, Sections 3.3 (“Election and Terms”), 3.6.1 (“Committees”) and 4.7 (“Quorum”);
- MFDA By-law No. 1, Sections 1 (definition of “records”) and 22 (Examinations and Investigatory Powers); and
- MFDA By-law No. 1, Subsection 24.A.4 (Ombudservice).
These proposed amendments are currently awaiting approval/non-objection by the recognizing regulators.
MFDA Members also approved new Rules 1.2(1) (“Definitions”) and 1.2.6 (“Continuing Education”) which received the approval/non-objection of the recognizing regulators on September 26, 2019 (See MFDA Bulletin 0793-P). Following the completion of all necessary development work (i.e. MFDA CE Reporting and Tracking System and accreditation standards), requirements under Rules 1.2, 1.2.6, and Policy No. 9 will become effective in 2020, followed by an appropriate transition period.
In addition, Members confirmed amendments to the MFDA Financial Questionnaire & Report (Form 1) which became effective, for all audits, for periods ending on or after December 15, 2018.
The MFDA will hold its 2020 Annual General Meeting of Members on December 3, 2020 at 11:00 a.m. (Eastern) at Vantage Venues, 150 King Street West, 27th Floor, Toronto, Ontario.