The Mutual Fund Dealers Association of Canada (MFDA) will soon roll out a second client research project, the self-regulatory organization (SRO) announced on Wednesday.
The 2018 client research project will examine performance returns and cost information, in addition to basic demographic data.
It’s a larger version of the MFDA’s landmark 2016 client research project.
Mutual fund dealers can expect a mandatory request for data in June, the MFDA says in a bulletin, and dealers’ responses will be due by Sept. 30.
The 2016 project “provided the MFDA with valuable information and insight into members’ business, their [reps] and their clients,” the bulletin says. The SRO is now looking to repeat the effort, “to support our ongoing compliance efforts.”
Along with data on clients’ accounts and positions, 2018 data request will include information on performance, charges and compensation.
The MFDA seeks feedback from fund dealers by May 31 on their ability to fulfill the planned data request.