MFDA CEO Mark Gordon to step aside, take new position as Strategic Advisor to the MFDA Chair

Karen McGuinness appointed CEO

TORONTO, Sept. 16, 2022 /CNW/ - Mark Gordon will be stepping aside as CEO of the Mutual Fund Dealers Association of Canada (MFDA) to take a new position at the MFDA as Strategic Advisor to the MFDA Chair.

"I am proud of how much the MFDA has done to raise the standard of investor protection in Canada over the last 24 years and I would like to thank all MFDA staff, past and present, who have been instrumental in its success, and who will be equally instrumental in the success of the New SRO going forward," said Mark Gordon, outgoing President and CEO.

In agreement with the recommendation of Mr. Gordon, the MFDA Board has appointed Karen McGuinness as President and CEO of the MFDA. Ms. McGuinness, who was most recently Senior Vice-President of Member Regulation, has been a part of the MFDA Senior Management Team since its inception in 1998 and has been leading the MFDA's integration efforts in the establishment of the New SRO.

"On behalf of the whole Board, I would like to extend a great deal of thanks to Mark who was instrumental in founding the MFDA and making it into one of Canada's leading regulators," said Steven Glover, MFDA Chair. "The Board is also very pleased to appoint Karen as CEO and believes she is best positioned to lead the final phase of the MFDA's transition to the New SRO. I look forward to working with both Mark and Karen in their new roles."

The appointment of Mr. Gordon as Strategic Advisor to the MFDA Chair and Ms. McGuinness as President and CEO is effective September 15, 2022.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 76,695 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.

SOURCE Mutual Fund Dealers Association of Canada

Ian Strulovitch, Director, Communications & Public Affairs and Senior Legal Counsel, [phone], [email protected]