MFDA offers fund dealers advice in case of postal strikepar Andrew Rickard | June 29 2016 01:30PM
Regulations require mutual fund dealers to deliver documents such as trade confirmations and account statements to clients. What should they do if there is a postal strike?
On June 23, the Mutual Fund Dealers Association (MFDA) issued a bulletin advising dealers that, should Canada Post workers go on strike, they are still required to make “reasonable efforts” to meet their obligations to clients with respect to trade confirmations, account statements and other client documentation.
“Members should advise clients that there will be a delay in receipt of documents by mail and discuss alternate arrangements with the client in the event that the document is required on a more urgent basis,” reads the MFDA bulletin. “Alternative arrangements may include e-mail, fax and commercial delivery to branch offices for client pick-up. Members should ensure that the method of delivery has the security necessary to safeguard client’s privacy.”