MFDA members approved a number of amendments to MFDA Rules at the Annual General and Special Meeting of Members on December 1. Rule amendments include those with respect to transaction fees, proficiency requirements and the Client Relationship Model project. For more information, see MFDA Bulletin #0458-P. While some of the amendments are already in effect, those respecting the Client Relationship Model are subject to transition periods. For example, the requirements for relationship disclosure under Rule 2.2.5 will not be effective until September 28, 2011 for new clients and December 3, 2013 for existing clients. A summary of the various transition periods for the amended rules is provided in MFDA Bulletin #0459-P.