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Bulletin #0595-M

Membership Information
MFDA Whistleblower Program

Shaun Devlin

Senior Vice-President, Member Regulation, Enforcement
February 7, 2014


MFDA Bulletin

Membership Information

For Distribution to Relevant Parties within your Firm

MFDA Whistleblower Program

Regulators have recognized the importance of whistleblowers in exposing potential wrongdoing
within organizations.

The Mutual Fund Dealers Association of Canada (the “MFDA”) has established a Whistleblower
Program to receive information from individuals with knowledge or evidence of potential
unethical or illegal activity or contraventions by MFDA Approved Persons or Members, of
MFDA By-laws, Rules, Policies or Canadian securities requirements.

The Whistleblower Program will enable MFDA Enforcement Staff to earlier identify potential
illegal activity or regulatory misconduct including fraud, and to take the necessary action to
minimize harm. This advances the MFDA’s mandate to enhance investor protection and
strengthen public confidence in the Canadian mutual fund industry.

For individuals wanting to provide information, the MFDA has formed a Whistleblower Team
that can be reached directly toll-free at 1-888-466-6332, option #2, or by email at In addition, the MFDA will maintain a dedicated webpage with further
information about its Whistleblower Program at:

The Whistleblower Program does not replace the MFDA’s existing investor complaints process.
If you are a client of an MFDA Member and wish to make a complaint, please visit: or call toll-free at 1-888-466-6332, option # 1.