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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