Notice of Ministerial Approval of Memorandum of Understanding between Certain Provincial Securities Regulators Concerning the Mutual Fund Dealers Association of Canada (MFDA)

On October 2, 2013, the Minister of Finance approved, pursuant to section 143.10 of the Securities Act (Ontario), the memorandum of understanding between certain provincial securities regulators, collectively the recognizing regulators (RRs), concerning the MFDA (the MOU).The MOU is intended to promote a more effective and efficient system of oversight of the MFDA and to formalize current cooperation among the RRs. It provides a comprehensive framework with respect to the coordination of the oversight reviews and activities of the MFDA by the RRs. The MOU sets out an agreed communication process with the MFDA, and establishes uniform procedures, in the form of a Joint Rule Protocol ("JRP"), relating to the review and approval of or non-objection to rule changes proposed by the MFDA.

The MOU came into effect in Ontario on October 2, 2013. The MOU signed by certain provincial securities regulators, was published in the Bulletin on August 8, 2013 (See (2013), 36 OSCB 7909).