{"id":2405,"date":"2020-09-22T12:02:00","date_gmt":"2020-09-22T12:02:00","guid":{"rendered":"https:\/\/cfacanada.org\/mfda-consultation-paper-on-account-transfers\/"},"modified":"2024-03-20T14:54:25","modified_gmt":"2024-03-20T14:54:25","slug":"mfda-consultation-paper-on-account-transfers","status":"publish","type":"post","link":"https:\/\/cfacanada.org\/fr\/mfda-consultation-paper-on-account-transfers\/","title":{"rendered":"MFDA Consultation Paper on Account Transfers"},"content":{"rendered":"    <div class=\"hero hero--without-image hero-banner-block alignfull\">\n        <div class=\"hero__wrapper container\">\n            <div class=\"row justify-content-between align-items-center g-0\">\n                <div class=\"d-flex col-12\">\n                    <div class=\"hero__content\">\n                        <h1 class=\"hero__title\">MFDA Consultation Paper on Account Transfers <\/h1>\n                                                                                            <\/div>\n                <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n\n\n\n\n\n<h2 class=\"wp-block-heading\">Download PDF:<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.cfasociety.org\/canada\/Comment%20Letters\/2020\/MFDA%20Consultation%20-%20Account%20Transfers.pdf\"><a href=\"https:\/\/www.cfasociety.org\/canada\/Comment%20Letters\/2020\/MFDA%20Consultation%20-%20Account%20Transfers.pdf\">MFDA Consultation Paper on Account Transfers\u00a0<\/a><\/a><\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Letter Summary:<\/h2>\n\n\n\n<p>The Proposed Guidance would replace the existing KYC and suitability guidance in its entirety and is intended to Current MFDA Rules require MFDA dealers to act diligently and promptly to facilitate the transfer of accounts in an orderly and timely manner. The Consultation Paper seeks comments on recommendations regarding account transfer rules, as those that involve non-MFDA members or certain assets can become complicated. The MFDA is requesting preliminary feedback on issues that contribute to delays in the transfer of assets as well as potential solutions.<\/p>\n\n\n\n<p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Overview of the Council&rsquo;s Comments:<\/h2>\n\n\n\n<p>In our letter, we note that there are technology solutions to assist dealers with the account\/securities transfer process, and that while a universal-access electronic public utility system would be an ideal industry solution, there are a limited number of existing solutions offered by ATON (CDS\/TMX Group) and FundServ, and some proprietary systems set up by dealers themselves for limited types of assets.<\/p>\n\n\n\n<p>We suggest, to become a universal-access solution, any solution provider would require a pricing mechanism that could facilitate wide availability\/accessibility of some subset of limited-use basic \u2018utility\u2019 functions (particularly as it is likely that both parties to the transfer must be members of the system) and must be easy to use. We understand, for example, that as a result of user feedback ATON\u2019s next version will include a web-based platform and the ability to attach documents. As a future step, the MFDA, potentially together with other relevant regulators, could work with CDS and others on a utility pricing model with an entry point for small firms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download PDF: MFDA Consultation Paper on Account Transfers\u00a0 Letter Summary: The Proposed Guidance would replace the existing KYC and suitability guidance in its entirety and is intended to Current MFDA Rules require MFDA dealers to act diligently and promptly to facilitate the transfer of accounts in an orderly and timely manner. The Consultation Paper seeks [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[158],"tags":[],"class_list":["post-2405","post","type-post","status-publish","format-standard","hentry","category-lassociation-canadienne-des-courtiers-de-fonds-mutuels-acfm"],"acf":[],"featured_image_src":null,"author_info":{"display_name":"Robert Decher","author_link":"https:\/\/cfacanada.org\/fr\/author\/robert\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MFDA Consultation Paper on Account Transfers - CFA Societies Canada<\/title>\n<meta name=\"description\" content=\"In our letter, we note that there are technology solutions to assist dealers with the account\/securities transfer process, and that while a universal-access electronic public utility system would be an ideal industry solution, there are a limited number of existing solutions offered by ATON (CDS\/TMX Group) and FundServ, and some proprietary systems set up by dealers themselves for limited types of assets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cfacanada.org\/mfda-consultation-paper-on-account-transfers\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MFDA Consultation Paper on Account Transfers - 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