THE MANITOBA SECURITIES COMMISSION

MSC Rule 2001-14

(Section 149.1, The Securities Act)

 

LOCAL RULE 31-506

MFDA MEMBERSHIP – MUTUAL FUND DEALERS

 

 

PART 1 – DEFINITIONS

 

 

Definitions

1.1                   "Effective Date" means June 1, 2001.

   

"MFDA" means The Mutual Fund Dealers Association of Canada.

 

"Mutual Fund Dealer" means a company registered under The Securities Act as a Broker-Dealer restricted to the distribution of prospectus qualified mutual funds and such other securities permitted under the terms and conditions of their registration.

 

 

PART 2 – MEMBERSHIP REQUIRED

 

 

Membership required

2.1                   From and after July 2, 2002, a Mutual Fund Dealer shall be a member of the MFDA. 

 

 

PART 3 – APPLICATION FOR MEMBERSHIP

 

 

Mutual fund dealers on effective date

3.1                   A Mutual Fund Dealer which is a Mutual Fund Dealer on the Effective Date  shall file with the MFDA, no later than the 30^th day after the Effective Date:

 

(a) an application for membership in the form prescribed by the MFDA; and

 

(b) the fees prescribed by the MFDA for the application for membership

 

if it has not already done so.

 

New applicants for registration as mutual fund dealers before the effective date

3.2                   A person or company that has applied to the Commission for registration as a Mutual Fund Dealer before the Effective Date and that is not registered as a Mutual Fund Dealer on the Effective Date, shall file with the MFDA, no later than the 30^th day after the Effective Date, the application for membership and fees referred to in section 3.1, if it has not already done so.

 

New applicants for registration as mutual fund dealers after the effective date

3.3                   A person or company that applies to the Commission for registration as a Mutual Fund Dealer after the Effective Date shall file with the MFDA:

 

(a) an application for membership in the form prescribed by the MFDA; and

 

(b) the fees prescribed by the MFDA for the application for membership

 

on the same date as it files its application for registration with the Commission as a Mutual Fund Dealer.

 

 

PART  4 – CITATION AND EFFECTIVE DATE

 

 

Citation

4.1                   This rule may be cited as MSC Rule 2001-14 or National Instrument 31-506.

 

Effective date for the rule

4.2                   This Rule shall come into force on June 1, 2001.

 

 

PART 5  - EXEMPTION

 

 

Exemption

5.1                   The Director may grant an exemption to this Rule, in whole or in part, subject to such conditions or restrictions as may be imposed in the exemption.

 

5.2                   Subject to 5.1, failure to comply with this Rule will result in the suspension of registration of a Mutual Fund Dealer.