Canada:
MFDA Codifies Standards For Assessing Suitability Of Leveraging
13 February 2013
Stikeman Elliott LLP
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The Ontario Securities Commission has approved
amendments to the Mutual Fund Dealers Association of
Canada's Rule 2.2.1 and Policy No. 2 regarding
suitability obligations in cases of leveraged borrowing. The
changes will, among other things, codify minimum criteria standards
for assessing the suitability of client leveraging and provide
guidance on the type of documents MFDA members will be
required to review and maintain to facilitate supervision of a
leveraging strategy. The
MFDA released proposed amendments on the subject in
July 2011.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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