IDA By-Laws 10.1 and 10.4 - Board of Directors, National Advisory Committee and Meetings - Withdrawal of Proposed Rule Amendment

INVESTMENT DEALERS ASSOCIATION OF CANADA

BY-LAWS 10.1 AND 10.4 - BOARD OF DIRECTORS,
NATIONAL ADVISORY COMMITTEE AND MEETINGS

WITHDRAWAL OF PROPOSED RULE AMENDMENT

I Overview

On July 15, 2005, the Ontario Securities Commission published for comment a proposed rule amendment that would eliminate the requirement that the IDA Board of Directors be comprised of two-thirds Industry Directors.

II Withdrawal

The Association has informed the Canadian Securities Administrators that we have withdrawn the proposed rule amendment. In its place, the Association has submitted proposed rule amendments relating to the composition of the IDA Board of Directors that would both eliminate the requirement that the board be comprised of two-thirds Industry Directors and specifically require an equal number of Industry and Public Directors on the board.

Questions may be referred to:

Richard J. Corner

Vice President, Regulatory Policy

Investment Dealers Association of Canada

(416) 943-6908