The Investment Dealers Association has approved an amendment to Regulation 200, which deals with account statements.

The current regulation requires that a monthly statement be sent to all customers where an entry has been made in their account during the month. This includes regular dividend and interest payments.

The IDA requirement is more stringent than the requirements of the securities commissions, which only require the sending of monthly statements to those customers who have effected a transaction, and does not require a monthly statement be sent for regular dividend and interest payments.

Now, Regulation 200 has been amended to not require the preparation and sending of monthly statements resulting from the recording of relatively immaterial entries in a customer’s account.

Member firms must comply with the regulation by July 1.