(Updated March 4, 2013)
MFDA Rule 3.5.4(b) provides for the levy of fines or assessments for the failure of a Member or its auditor to file any report, form or financial statements required under MFDA Rule 3. As of December 1, 2003, the MFDA imposes fees for late filing of information as prescribed in the attached Schedule A.
Members are reminded that, unless they are specifically subject to earlier time periods due to the imposition of early warning requirements or a term and condition of membership, they are required to file an unaudited Form 1 with the MFDA no later than 20 business days after the month end and an audited Form 1 no later than 90 days after the Member’s fiscal year end. A schedule outlining financial filing deadlines for the calendar year will be provided in a Bulletin issued on an annual basis.
SCHEDULE A
MUTUAL FUND DEALERS ASSOCIATION OF CANADA
ASSESSMENTS FOR LATE FILING
| Name of Filing | Filing Deadline | Fine | |
|---|---|---|---|
| 1. | Annual Audited Form 1 | Within 90 days of Member’s fiscal year end | $250/business day |
| 2. | Monthly Unaudited Form 1 | Within 20 business days of the month end. Earlier filing deadlines apply to those subject to early warning or subject to terms and conditions of membership. | $100/business day |
| 3. | Any other form or report requested by the Corporation under Rule 3. | As determined by the Corporation | $100/business day |