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Bulletin #0885-P

For further information, please contact:

Paige Ward
General Counsel, Corporate Secretary and Vice President, Policy
Policy
For Distribution to Relevant Parties within your Firm

Publication for Comment – Proposed New Policy No. 11 (Proficiency Standards for the Sale of Alternative Mutual Funds)

On November 25, 2021, the British Columbia Securities Commission (BCSC) published for comment proposed new MFDA Policy No. 11 – Proficiency Standards for the Sale of Alternative Mutual Funds.

The objective of the Policy is to establish proficiency requirements for the distribution of alternative mutual funds by MFDA Members and Approved Persons.

The proposed new Policy will enable the MFDA to adopt requirements that are consistent with the regulatory policy rationale underlying the exemption orders published by the CSA members, and will also ensure that alternative mutual funds, whether sold pursuant to a prospectus or on a prospectus-exempt basis, will be subject to appropriate proficiency requirements.

To view details of proposed new Policy No. 11, please go to: www.mfda.ca.

The details of the proposed Policy may also be viewed on the BCSC website at www.bcsc.bc.ca.

Comments

Proposed new Policy No. 11 is being published for a 60-day comment period. Please submit your comments in writing on or before January 24, 2022. All comment letters received will be published to the MFDA website, unless MFDA staff receives a request from the commenter asking that their letter not be made public. Comments should be addressed to the attention of:

Paige Ward
General Counsel, Corporate Secretary and Vice-President, Policy
E-mail: pward@mfda.ca

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