Mutual funds will no longer accept cheques from someone else to open an account in your name. This is to avoid a scam that has been going on with advisors taking cheques from people and filing an application in their own name instead.
The repurcussions, for all of us, is that now we must invest in mutual funds with a cheque from our own account. While this may sound obvious, there are some reasons why we may want it differently - for instance, investing in the name of your children, or for mutual fund "gifts". We talk about the different reasons for, and implications of this rule.