MFDA applauds Canadian Securities Administrators' announcement of review of framework for self-regulatory organizations

TORONTO, Dec. 12, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada (MFDA) today applauded the Canadian Securities Administrators' (CSA) announcement that it will undertake a review of the regulatory framework for self-regulatory organizations (SROs).

"As a regulator focused on protecting over half of Canadian households we support the CSA and congratulate them for commencing this consultation. This is a very important initiative for Canadian investors, industry and regulators," said MFDA President and CEO Mark Gordon. "As part of its ongoing strategic planning, the MFDA has conducted extensive research and analysis on the role of SROs with a view to determining the regulatory model that will best meet Canada's current and future needs. The MFDA will share this analysis with the CSA and all relevant stakeholders in early 2020."

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 81,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.

SOURCE Mutual Fund Dealers Association of Canada