Regulators have signed a memorandum of understanding to give the Mutual Fund Dealers Association of Canada access to the National Registration Database to collect information for compliance and enforcement cases.

A notice published in Friday’ss OSC Bulletin spells out the terms of the understanding between certain provincial securities regulators, the Investment Industry Regulatory Organization of Canada and the MFDA, “in order to facilitate the sharing of information concerning compliance and enforcement matters.”

The notice indicates that the memorandum establishes a framework for the entry and viewing of regulatory notes on the NRD by the MFDA.

The association’s access to and use of NRD is limited to:

> viewing information and adding regulatory notes concerning current and former MFDA members or reps, and applicants for MFDA membership or approval, for the purpose of ensuring compliance with and enforcement of the MFDA’s rules; and

> viewing information concerning non-MFDA members for the purpose of identifying the appropriate regulatory authority to refer complaints.

The memorandum was delivered to Ontario’s finance on January 21, and is subject to approval by the minister, which is expected by March 23.

IE