The Mutual Fund Dealers Association has unveiled its new industry policy committee structure, which will involve the participation of MFDA members.

MFDA bulletin “0067-M, states the committee structure will consist of the Member Regulation Forum, the Policy Advisory Committee, and Ad Hoc Working Groups.

The Member Regulation Forum will be comprised of all MFDA members. It will meet with MFDA staff semi-annually to receive information on issues such as current regulatory developments and practices observed during compliance reviews.

The Policy Advisory Committee (PAC) will be comprised of officers and senior employees of MFDA members and the chairs of the MFDA regional councils. At the request of the MFDA, the PAC will provide advice, comment and report to MFDA staff on a variety of matters including regulatory and policy initiatives and industry trends and practices. The members of the PAC will be “reasonably representative” of the MFDA membership based on regional representation, size and type of business, and ownership structure. The MFDA plans to publish a Bulletin soliciting applications for membership in the PAC in April.

Ad hoc working groups will be established by MFDA staff from time to time, as required, to develop recommendations on particular policy initiatives.

The MFDA says that the objectives for its policy committees include: member participation; consultation between the MFDA and members on market practices, issues and problems in the industry; and, to create a forum for informing members about current regulatory information at the MFDA.