IIAC PROVIDES COMMENTS ON MFDA CONSULTATION ON ACCOUNT TRANSFERS
The IIAC submitted comments to the MFDA detailing some of the current challenges experienced by IIAC members when processing account transfers involving MFDA firms. Specifically, an over-reliance on manual processes and movement of physical paper and cheques has made account transfers with MFDA firms a challenge for IIAC members. The IIAC recommends increased use of automation at MFDA firms and fund companies to bring efficiencies to the current processes.
For additional information, please contact Jack Rando.