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BULLETIN #0799-M
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Paige Ward

Corporate Secretary

4169435838

pward@mfda.ca

BULLETIN #0799-M

November 29, 2019

Membership Information

For Distribution to Relevant Parties within your Firm

Annual General and Special Meeting of Members

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:

Public Directors

Steven Glover, MBA, FCPA, FCA
Corporate Director
(Canmore, Alberta)

Les O’Brien, Q.C.
Former Chair
Nova Scotia Securities Commission
(Halifax, Nova Scotia)

Hugh McNabney, CPA (Retired)
Corporate Director
(Orillia, Ontario)

Barbara Shourounis, LL.B.
Former Director
Saskatchewan Financial Services Commission
(Regina, Saskatchewan)

Christopher Nicholls, BA, LL.B., LL.M., MPA
Professor of Business Law
Western University
(London, Ontario)

Vince Valenti, MBA
President
Valenti Holdings Inc.
(Manotick, Ontario)

Industry Directors

Patricia Callon, LL.B., BA (Hons)
Senior Vice-President & General Counsel
Sun Life Financial Canada
(Toronto, Ontario)

Mark Kinzel, BA
Executive Vice-President, Financial Services
Investors Group Inc.
(Winnipeg, Manitoba)

Katherine Dudtschak, MBA
Chair & Chief Executive Officer
Royal Mutual Funds Inc.
(Toronto, Ontario)

André Langlois, FSA, FCIA
President
Desjardins Financial Security Investments Inc.
(Montreal, Quebec)

Sonny Goldstein, CFP
President
Goldstein Financial Investments Inc.
(Toronto, Ontario)

Michael Stanley
President
Sterling Mutuals Inc.
(Windsor, Ontario)

President & CEO

Mark T. Gordon, LL.B.
Mutual Fund Dealers Association of Canada
(Toronto, Ontario)

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.

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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.

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