The Mutual Fund Dealers Association is seeking nominations for a working group to advise its newly created contingency fund, the MFDA Investor Protection Corp.

The MFDA IPC and the MFDA will be establishing a working group consisting of representatives of the IPC, the regulator and MFDA members to review various aspects of the IPC, including: identifying the risks of fund dealer failures; the type of products the fund should cover; the necessary size of the fund; the proper coverage limits; the assessment methodology, including whether it should be risk-based; the appropriate long term methods of funding the IPC; and, the types of risk management tools required by the IPC.

The self-regulator and the fund are currently seeking suggestions for working group representatives from the dealer community. Candidates should be officers and senior employees of MFDA members and will be selected with a view to ensuring the working group is reasonably representative of the diversity of MFDA membership.

Applications are due by August 15.