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Bulletin #0382-P

Policy
Rule 2.4.1 (Payment of Commissions to Unregistered Corporation)

Contact: Aamir Mirza
BULLETIN #0382 – P
Senior Legal & Policy Counsel
June 23, 2009
Phone: (416) 945-5128
E-mail: amirza@mfda.ca

MFDA Bulletin

Policy

For Distribution to Relevant Parties within your Firm

Rule 2.4.1 (Payment of Commissions to Unregistered Corporation)

Proposed amendments to Rule 2.4.1 (Payment of Commissions to Unregistered Corporation) are
being published for comment. The proposed amendments: (i) codify existing practice with
respect to the payment of commissions to unregistered corporations in all provinces except
Alberta; and (ii) are intended to allow Members and their Approved Persons an appropriate
degree of flexibility in how they structure their business affairs, provided that certain conditions
are satisfied.

Comments should be made in writing prior to September 17, 2009. One copy of each comment
letter should be addressed to the attention of the Corporate Secretary, Mutual Fund Dealers
Association of Canada, 121 King St. West, Suite 1000, Toronto, Ontario, M5H 3T9 and one
copy addressed to the attention of Sarah Corrigall-Brown, Senior Legal Counsel, British
Columbia Securities Commission, 701 West Georgia Street, P.O. Box 10142, Pacific Centre,
Vancouver, British Columbia, V7Y 1L2.

Those submitting comment letters should be aware that a copy of their comment letter will be
made publicly available on the MFDA website at www.mfda.ca.

To view the current revisions to the proposed amendments and other related documents, please
go to: https://mfda.ca/regulation/propAmend/Prop2_4_1.pdf .

The proposed amendments may also be viewed on the British Columbia Securities Commission
website at: http://www.bcsc.bc.ca/sros.asp?id=7888

DM# 177379