The Investment Dealers Association has approved amendments to its constitution.

The current constitution of the IDA does not address the distribution of assets in the event of dissolution or the winding-up of the IDA, or even the fact that the purposes of the IDA do not include profit. The IDA commissioned a law firm to review its constitution to ensure that it is consistent with the current operations of the IDA.

The amendments, based on the law firm’s recommendations, will address the distribution of assets issue and will clarify the fact that the IDA’s mandate does not include profits.