Choose the following statement that is not true of the MFDA: Question 7 options: They regulate the activities of its members and their employees and agents for the purpose of investor protection They are responsible for overseeing all investment dealers and trading activity on the equity and debt market places Some of the powers of the MFDA include issuing fines, enforcing business conduct, and the admission of members Compliance reviews are conducted on a regular basis that include both a financial and sales practices component.