Skip to Main Content

Bulletin #0054-C

Compliance
Electronic Filing System ("EFS")

Mutual Fund Dealers Association of Canada
Association canadienne des courtiers de fonds mutuels
121 King Street West, Suite 1600, Toronto, Ontario, M5H 3T9
TEL: 416-361-6332 FAX: 416-943-1218 WEBSITE: www.mfda.ca

Contact:
Laura
Milliken
BULLETIN #0054-C
Senior Manager, Financial Compliance
February 9, 2004
Phone: 416-943-5843
E-mail: lmilliken@mfda.ca

MFDA Bulletin

Compliance

For Distribution to Relevant Parties within your Firm


Electronic Filing System (“EFS”)
Effective November 1, 2003, Members of the Mutual Fund Dealers Association of Canada are
able to file their Financial Questionnaire and Reports (“FQR”) using a web-based application.

MFDA Rule 3.5.1 requires each Member to file with the MFDA unaudited financial information
within 20 business days of its month end. (Note: Member Regulation Notice MR-0018 allows
for a transition period for the monthly filing requirement, such that Members are required to file
financial information quarterly unless otherwise requested more frequently by the MFDA. This
transition period provision expires March 1, 2004.) In addition, Rule 3.5.1 requires each
Member’s auditor to file with the MFDA audited financial information of the Member within 90
days of the Member’s fiscal year end. Both the unaudited and audited financial information must
be reported in the FQR format.

Effective November 1, 2003, Members may comply with Rule 3.5.1 requirements by either
continuing to submit a manual, paper-based copy of the FQR or use the EFS to submit the FQR
electronically. If a Member chooses the EFS filing method, the FQR must be submitted by the
due date in accordance with Rule 3.5.1. In addition, in order for the electronic FQR submission
to be considered “complete”, a properly signed Certificate of Partners or Directors, coinciding
with the FQR submitted, must be received within 3 business days of the due date of the filing.

If a complete FQR is not received by the due dates noted above, late filing penalties will be
imposed on the Member. Please refer to Member Regulation Notice MR-0021 for specific
details relating to late filing fees.

In the future the MFDA intends on providing industry statistics which will be available to all
EFS users.
(doc #26599)