Canada:
Mutual Fund Dealers Now Required To Send Clients Quarterly Statements
12 March 2012
Stikeman Elliott LLP
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On March 2, the Mutual Fund Dealers Association of
Canada (MFDA) announced the adoption of amendments to
MFDA Rule 5.3 (Client Reporting), which are now in
effect. The amendments, intended to ensure that the frequency of
account statement delivery requirements under MFDA rules are
consistent with those established under NI 31-103, require
mutual fund dealers to deliver a statement to all clients at least
once every three months. The amendments were initially proposed in
October 2011. For more information, see MFDA Bulletin
#0521-P.
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