MFDA TO USE FINE AND SETTLEMENT MONEY TO HELP PAY FOR SRO INTEGRATION COSTS
On July 28, 2022, the OSC published its order granting the MFDA’s application to apply its discretionary fund, comprised of fine and settlement money, toward SRO integration costs. The integration costs approved for payment through the discretionary fund are set out at Appendix A of the OSC’s order as follows:
{1} Range of projected third-party advisor and consultant costs
{2} K= 1,000; M= 1,000,000
{3} Where applicable, MFDA's portion of fees represents 50% of the total Projected Total Costs
The MFDA submitted its application for this relief on October 18, 2021. A full copy of the OSC’s order is found here.