The Ontario Securities Commission has signed off on a trio of housekeeping amendments to the rules of the Mutual Fund Dealers Association.

The OSC approved an amendment that clarifies that reps at MFDA member firms are prohibited from lending or extending credits to clients.

The Ontario regulator approved another rule amendment that clarifies that the partner, director, officer or branch manager designated by a fund dealer to approve the opening of new accounts must be registered.

As well, the OSC approved an amendment correcting an incorrect cross reference to the MFDA rule that deals with designation of branch managers and alternate branch managers.