The Ontario Securities Commission has approved proposed amendments to the rule 2.3.1 of the Mutual Fund Dealers Association regarding power of attorney/limited trading authorization.
The proposed amendments will allow approved persons to hold a general power of attorney over the accounts of family members provided certain compliance controls are met.
These amendments were published on July 11. Based on the public comments received, the MFDA decided to include in the rule the prescribed compliance controls, which were described in the MFDA notice that was published on July 11.
Also, the Alberta Securities Commission, Nova Scotia Securities Commission and Saskatchewan Financial Services Commission approved and the British Columbia Securities Commission did not object to the proposed amendments.
Regulators approve amendments to MFDA rule on power of attorney
Power of attorney extended to accounts of family members
- By: IE Staff
- November 10, 2003 November 10, 2003
- 09:38
IE Staff