Question

Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend, Julius. However, after Julius learned about her investment, he admits that he had a bad experience with mutual fund investing and that he lost money. Mariana regrets not talking to Julius prior to making her decision. Her feelings of enthusiasm have changed to fear. She is wondering if it is too late to change her mind and cancel her purchase order. Which statement regarding the right of withdrawal is CORRECT?

Accepted Answer

The right of withdrawal for investors can be different depending on which province (or territory) the fund was purchased within.

Answer

The Canadian Securities Administrators (CSA) created legislation that addresses the right of withdrawal for investors.

Answer

The Mutual Fund Dealers Association of Canada (MFDA) have written conduct rules regarding the right of withdrawal.

Answer

Mariana has to wait two business after her purchase order has been settled to exercise the right of withdrawal.

Yesterday, Mariana who is new to investing and purchased mutual funds for the very first time. She shared her excitement with her good friend…

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