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Bulletin #0392-P

Sections 1 (Definitions) and 3 (Directors) of MFDA By-law No. 1

Contact: Jason

BULLETIN #0392 – P
Corporate Secretary &
August 21, 2009
Director, Regional Councils
Phone: 416-943-7431

MFDA Bulletin


For Distribution to Relevant Parties within your Firm

Sections 1 (Definitions) and 3 (Directors) of MFDA By-law No. 1

Proposed amendments to sections 1 and 3 of the MFDA By-law No. 1 are being published for
comment. The proposed amendments are intended to address some of the key recommendations
contained in the Task Force Report.

The proposed amendments will increase the number of Directors, address transitional matters
and clarify certain terms used in the By-law. This will permit greater opportunities to ensure that
the Board of Directors reflects the diversity of MFDA Members, particularly small and medium
size firms. The proposed amendments will also permit individuals currently ineligible as Public
Directors to qualify as Public Directors where appropriate in accordance with MFDA’s
nominating procedures. In addition, the proposed amendments will change the terms of office of
all Directors of MFDA (i.e. Industry and Public Directors) to 2 years with a maximum tenure of
4 terms.

Comments should be made in writing prior to September 21, 2009. One copy of each comment
letter should be addressed to the attention of Jason Bennett, 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

To view the current revisions to the proposed amendments and other related documents, please
go to: .

The proposed amendments may also be viewed on the British Columbia Securities Commission
website at: .


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