THE SECURITIES ACT	)	ORDER NO. 5375
	)
SECTION 31.1	)	DATE: May 31, 2007

THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

WHEREAS:

(A) Application has been made by the Mutual Fund Dealers Association of Canada (MFDA) to The Manitoba Securities Commission (the “Commission”) for an order pursuant to subsection 31.1 of The Securities Act R.S.M. 1988, c.S50 (as amended) requesting recognition of the MFDA as a self-regulatory organization regulating the standards and business conduct of its members.

(B) The Commission has considered the application of the MFDA for recognition as a self-regulatory organization for mutual fund dealers.

(C) The Commission has received certain representations and acknowledgements from the MFDA in connection with the MFDA’s recognition as a self-regulatory organization.

(D) The Commission is satisfied that the MFDA will regulate the operations and the standards of practices and business conduct of its members and their representatives in accordance with its by-laws, rules, regulations, policies, procedures, interpretations and practices.

(E) The Commission considered it appropriate to set out in an order the terms and conditions of the MFDA’s recognition as a self-regulatory organization for mutual fund dealers, which terms and conditions are set out in Schedule A attached.

(F) The MFDA has agreed to the terms and conditions set out in Schedule A. 

(G) The Commission is of the opinion that it is in the public interest to grant the order requested.

IT IS ORDERED:

1. THAT, pursuant to subsection 31.1(1) of The Securities Act, The Commission recognizes the MFDA as a self-regulatory organization subject to the terms and conditions attached as Schedule A to this Order

BY ORDER OF THE COMMISSION

Director