Updated Mutual Fund Staff Notice MSN-0032 related to Use of Business, Style or Trade Names by Members and Approved Persons

The Canadian Investment Regulatory Organization (CIRO) is amending Mutual Fund Staff Notice MSN-0032 MFDA 1.1.7 – Use of Business, Style or Trade Names by Members and Approved Persons. The amended notice removes the requirements for Mutual Fund Dealer Members (Members) to separately notify CIRO of changes to trade, business or style names by the Member or its Approved Persons.

Effective April 1, 2025, as part of the delegation of authority for the registration of mutual fund dealers to CIRO, the Canadian Securities Administrators (CSA) waived the National Registration Database (NRD) employee access restrictions that previously applied to mutual fund dealer information. As a result, CIRO employees now have direct access to trade name information for Members and their Approved Persons in NRD.

Accordingly, CIRO is updating MSN-0032 relating to MFD Rule 1.1.7 to remove the second paragraph under the “Notification of Trade Names” section, which reminded Members to notify CIRO directly of any changes to trade, business or style names used by the Member or its Approved Persons, including cessations of use and related branch location information.

Appendices

Appendix 1 – Mutual Fund Staff Notice: MSN-0032 - MFD Rule 1.1.7 – Use of Business, Style or Trade Names by Members and Approved Persons