Federation of Mutual Fund Dealers

The Mutual Fund Dealers Association of Canada (MFDA) was the national self-regulatory organization (SRO) for the Canadian mutual fund industry. Established in 1998, its mandate was to protect investors by regulating the operations, standards of practice, and business conduct of its member firms and their representatives across Canada (except in Québec). On January 1, 2023, the MFDA amalgamated with the Investment Industry Regulatory Organization of Canada (IIROC) to form the New Self-Regulatory Organization of Canada (New SRO). This new entity was officially renamed the Canadian Investment Regulatory Organization (CIRO) on June 1, 2023. CIRO now oversees all investment dealers, mutual fund dealers, and trading activity on Canada’s debt and equity marketplaces, consolidating the regulatory framework to enhance investor protection and market integrity.