Which regulatory body governs mutual funds in Canada?

The governing body for mutual funds in Canada is the Mutual Fund Dealers Association (MFDA). The MFDA is specifically responsible for overseeing the distribution and sales of mutual fund products by dealers, ensuring that these entities comply with regulatory standards and that they operate in a fair and ethical manner. It plays a vital role in setting rules and regulations that govern the conduct of mutual fund dealers and provides a framework for investor protection within the mutual fund sector.

While other organizations listed have important roles in the Canadian financial landscape, they focus on different aspects. For example, the Investment Industry Regulatory Organization of Canada (IIROC) oversees investment dealers and trading activity on debt and equity marketplaces but does not regulate mutual funds specifically. The Canadian Securities Administrators (CSA) is a collective of provincial and territorial securities regulators that coordinates regulation across Canada but does not directly govern mutual funds. The Financial Consumer Agency of Canada (FCAC) focuses on protecting consumers in the financial sector, primarily dealing with issues like financial literacy and consumer rights, rather than the direct regulation of mutual funds.