On June 19, the Mutual Fund Dealers Association (MFDA) published a five-year strategic plan. In light of the key themes and regulatory priorities that we have seen other regulators focus on, we are not surprised to see that the MFDA’s strategic plan includes the following elements, among others:
- Support for innovation by, e.g., encouraging members to collaborate with the MFDA if they want to implement new technology and assessing MFDA requirements to ensure they are relevant and applicable to emerging technologies and new business models;
- Introducing a continuing education requirement for all MFDA advisors;
- Exploring alternatives to improve transparency of costs for mutual fund investors; and
- Developing a cybersecurity plan to identify risks within the membership and provide information and guidance on threats, breaches and best practices.