MFDA meaning in Business ?

The Mutual Fund Dealers Association of Canada (MFDA) is a Canadian self-regulatory organization (SRO) that provides oversight to dealers that distribute mutual funds and exempt fixed income products. It is licensed under all Canadian provincial securities regulators (except Quebec, where it cooperates with the AMF instead). Its members consist of the distribution side of the industry that typically provide mutual funds and exempt fixed income products to Canadians through financial planners.

It works in parallel to another Canadian SRO, the Investment Industry Regulatory Organization of Canada (IIROC), which is responsible for the distribution of equities, ETFs, and other exchange traded products such as closed-end funds.