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AIMA appreciates MFDA’s proficiency norms for liquid-alt sale

MFDA’s new policy proposal sets out the requirements that MFDA members and approved individuals must meet to ensure that the Advising and Dealing with Alternative Mutual Funds provides for competence, experience and related requirements and regulations under Rule 1.2.3 The members fulfill the responsibilities under 2.5. 1.

A mutual fund restricted person, or any person supervising such person, may satisfy the competency requirements prescribed under the new policy by passing one of the following courses:

  • A bridge course examination, defined as either the IFSE Institute’s Alternative Mutual Funds and Hedge Fund Course or the Canadian Securities Institute’s Investing in Alternative Strategies: Hedge Funds and Liquid Alts for Mutual Fund Representative Course Examination;
  • CSI’s Derivatives Fundamentals Course Exam;
  • CSI’s Canadian Securities Course Exam; Sleep
  • Required courses to register as a Portfolio Manager – Advisory Representative, as specified under Section 3.11 of National Instrument 31-103.

AIMA Canada has long argued for alternative mutual funds, also known as liquid options or liquid options, as a way for investors to access diversification, risk reduction and non-correlated investments in Canada. should be widely available.

Belle Kaur, VP Legal and CCO, Third Eye Capital, said, “AIMA is a strong advocate of a wider distribution of options and has been working with CSA since early 2020 to achieve a proficiency regime that all Canadians have access to. Ensures fair access to options.” Chair at AIMA Canada. “The introduction of MFDA Policy 11 will help democratize liquid alts by allowing MFDA advisors to build portfolios that can perform through market cycles and better manage risk.”

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