MFDA reminds Canadians that November is Financial Literacy Month

TORONTO, Nov. 19, 2013 /CNW/ - November is Financial Literacy Month in Canada. In recognition of Financial Literacy Month, the Mutual Fund Dealers Association of Canada (the MFDA) would like to remind Canadians of the financial resources and tools available for reference on the MFDA website.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers. The MFDA regulates the operations, standards of practice and business conduct of its 114 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.

The MFDA maintains a page dedicated to investor resources which can be accessed by going to www.mfda.ca and clicking on the "For Investors" tab at the top of the page. On the investors section of the website the MFDA maintains information on:

• How to check the registration status of an advisor.
• How to check the past discipline history of an advisor.
• How to file a complaint with the MFDA.
• The MFDA enforcement process.
• The Ombudsman for Banking Services and Investments.
• The MFDA Investor Protection Corporation's compensation fund.

The "For Investors" section of the website also contains links to other useful investor tools provided by various other organizations.

In addition, the MFDA has recently published an information sheet on "Opening Your Investment Account" which can also be found on the "For Investors" section. The information sheet explains why certain personal information is required in order to open an investment account. As well, the information sheet provides details about the various terms and concepts that an investor may come across when filling out a new account application form.

SOURCE: Mutual Fund Dealers Association of Canada

Ian Strulovitch
Director, Public Affairs
416-943-7425
[email protected]