The Mutual Fund Dealers Association of Canada (MFDA) is a Canadian self-regulatory organization (SRO) that provides oversight to dealers that distribute mutual funds and exempt fixed income products. It is licensed under all Canadian provincial securities regulators (except Quebec, where it cooperates with the AMF instead). Its members consist of the distribution side of the industry that typically provide mutual funds and exempt fixed income products to Canadians through financial planners.
Mutual Fund Dealers Association
Abbreviation
MFDA
Formation
1998
Type
Organizations based in Canada
Legal status
active
Purpose
monitors members for compliance and enforces regulations through quasi-judicial proceedings
The MFDA was created in June 1998 through an initiative by the Canadian Securities Administrators (CSA) in response to the rapid growth of mutual funds in Canada in the late 1980s.
As of July 2013, the MFDA represented 115 mutual fund dealer members. These members include 81,134 approved persons and 359.4 Billion dollars in investor assets, commonly referred to as Assets under Administration (AUA).[1]
As of September 2018, the MFDA represented 91 mutual fund dealer members. These members include 80,177 approved persons and $561 Billion in Assets under Administration ("AUA") https://mfda.ca/members/membership-statistics/
As of October 2019, the MFDA represented 90 mutual fund dealer members. These members include 79,789 approved persons and $570.968 Billion in Assets under Administration ("AUA") https://mfda.ca/members/membership-statistics/
As of February 2020, the MFDA represented 91 mutual fund dealer members. These members include 78,256 approved persons and $573.664 Billion in Assets under Administration ("AUA") https://mfda.ca/members/membership-statistics/
Purpose and structure
The MFDA regulates the operations, standards of practice and business conduct of its Members and their representatives with a mandate to enhance investor protection and strengthen public confidence in the Canadian mutual fund industry.[2]
The mutual fund Dealerships collectively and formally represent themselves to the MFDA through the Federation of Mutual Fund Dealers FMFD.
mutual, fund, dealers, association, canada, mfda, canadian, self, regulatory, organization, that, provides, oversight, dealers, that, distribute, mutual, funds, exempt, fixed, income, products, licensed, under, canadian, provincial, securities, regulators, exc. The Mutual Fund Dealers Association of Canada MFDA is a Canadian self regulatory organization SRO that provides oversight to dealers that distribute mutual funds and exempt fixed income products It is licensed under all Canadian provincial securities regulators except Quebec where it cooperates with the AMF instead Its members consist of the distribution side of the industry that typically provide mutual funds and exempt fixed income products to Canadians through financial planners Mutual Fund Dealers AssociationAbbreviationMFDAFormation1998TypeOrganizations based in CanadaLegal statusactivePurposemonitors members for compliance and enforces regulations through quasi judicial proceedingsHeadquartersToronto Ontario CanadaRegion servedCanadaMembershipCanadian mutual fund providersOfficial languageEnglish FrenchBudgetC 33 284M FY2020 Websitewww wbr mfda wbr caIt works in parallel to another Canadian SRO the Investment Industry Regulatory Organization of Canada IIROC which is responsible for the distribution of equities ETFs and other exchange traded products such as closed end funds Contents 1 History 2 Purpose and structure 3 See also 4 External links 5 ReferencesHistory EditThe MFDA was created in June 1998 through an initiative by the Canadian Securities Administrators CSA in response to the rapid growth of mutual funds in Canada in the late 1980s As of July 2013 the MFDA represented 115 mutual fund dealer members These members include 81 134 approved persons and 359 4 Billion dollars in investor assets commonly referred to as Assets under Administration AUA 1 As of September 2018 the MFDA represented 91 mutual fund dealer members These members include 80 177 approved persons and 561 Billion in Assets under Administration AUA https mfda ca members membership statistics As of October 2019 the MFDA represented 90 mutual fund dealer members These members include 79 789 approved persons and 570 968 Billion in Assets under Administration AUA https mfda ca members membership statistics As of February 2020 the MFDA represented 91 mutual fund dealer members These members include 78 256 approved persons and 573 664 Billion in Assets under Administration AUA https mfda ca members membership statistics Purpose and structure EditThe MFDA regulates the operations standards of practice and business conduct of its Members and their representatives with a mandate to enhance investor protection and strengthen public confidence in the Canadian mutual fund industry 2 The mutual fund Dealerships collectively and formally represent themselves to the MFDA through the Federation of Mutual Fund Dealers FMFD See also EditCanadian securities regulation Autorite des marches financiers Quebec External links EditOfficial websiteReferences Edit Membership Statistics MFDA Home mfda ca This article about an organization in Canada is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Mutual Fund Dealers Association amp oldid 1103036655, wikipedia, wiki, book, books, library,
