Notice of Commission Approval - Amendments to the IDA By-laws 1 and 7 and to Policy 6, Parts I and II Regarding Proficiency Requirements for Chief Financial Officers ("CFOs")

Investment Dealers Association rule review

August 15, 2003

THE INVESTMENT DEALERS ASSOCIATION (IDA)

NOTICE OF COMMISSION APPROVAL

AMENDMENTS TO BY-LAWS 1 AND 7 AND TO POLICY 6, PARTS I AND II

REGARDING PROFICIENCY REQUIREMENTS

FOR CHIEF FINANCIAL OFFICERS ("CFOs")

Amendments to the IDA By-laws 1 and 7 and to Policy 6, Parts I and II regarding CFOs proficiency requirements have been approved by the Ontario Securities Commission. In addition, the Alberta Securities Commission did not disapprove and the British Columbia Securities Commission did not object to these amendments. The amendments establish proficiency requirements for CFOs of IDA member firms and allow these member firms to employ part-time CFOs. In addition, the definition of "Officer" will be amended to include the CFOs category.