Member Survey 2012

The 2012 Survey asked members to (i) Confirm the Federation’s priorities for 2012; (ii) Evaluate the performance of the MFDA on the basis of eight key criteria; and (iii) Suggest MFDA Best Practices.

1. Federation 2012 Priorities

The priorities identified by the members in 2012 have not changed dramatically. In 2011, the priorities included:

Lobby regulators and other associations
Create a meaningful dialogue with the MFDA
Become a communication conduit for members, and
Identify the key regulations to weigh in on or avoid
In 2012, three new priorities were identified in addition to those noted above. They are:

Facilitate an analysis of new regulatory requirements/how to best implement
Increase association membership
Lobby for more equitable regulatory and compliance structures for small vs. large dealers (a risk based approach)

2. Satisfaction with the MFDA

The purpose of this section was to gauge member satisfaction with key areas of the MFDA. The goal was to identify areas where improvements could be made in order to make the regulator more effective. The Federation’s survey was specifically designed to mirror a survey conducted by the MFDA in 2011 in order to identify trends. In general, the Federation members rate the MFDA’s performance highly in terms of general communication and the Member Forums; less so in other areas which we plan on discussing with MFDA staff.

3. Compliance Exams Best Practices

In this section of the survey, members were asked to identify best practices the MFDA could consider for 2012 – specific to the compliance exam and audit processes. The questions were open ended and asked members to identify two or three areas where the MFDA could be encouraged to modify or adopt practices in order to better serve their stakeholders. The Federation members were asked to focus on constructive and collaborative ideas. We received 18 responses which could be categorized under;

Pre-audit
On-site
Post-audit
Staff; and
Miscellaneous
The Federation’s Board is working through the satisfaction and best practices results with a view to meeting with MFDA staff to discuss.

Member Survey 2010

With the aid of Fusion Consulting the Federation polled its membership with the goal of establishing priorities for 2011 and to provide its Board with input in order to determine the Federation’s mandate.

The successful survey identified the following priorities

* lobby regulators and other associations
* maintain a meaningful dialogue with the MFDA
* be a communication conduit; and
* identify key regulations to weigh in on
The Board, working with members’ input were then able to establish the vision, mission and purpose of the Federation:

Our Vision is to be the representative voice of mutual fund distribution in Canada.
Our Mission is to ensure the viability and prosperity of this channel of distribution; and
Our Purpose is to

* Provide the forum for all stakeholders
* Be the advocate for our members, and
* Work with members to provide support through education, awareness and best practices.
We will be working with Fusion again to build on this foundation in order to ensure our priorities remain current and our communications strategy continues to be effective. Results when analyzed will be distributed to Members and available here.

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