Iiroc Custodial Agreement

A list of all implemented deposit agreements is regularly published by the MFDA and can be accessed under mfda.ca/news-and-publications/custodial-agreements/. When the investment fund company or the financial institution and its respective investment products held on behalf of the member are mentioned in this listing, the member may conclude that the assets are held in an “acceptable investment position.” Members are expected to check the sites where they hold assets and make every effort to ensure that the relevant authorities sign the mandatory guarantee agreement with the MFDA or, failing that, execute a hedging contract with the company itself, which contains the provisions of Rule 3.3.3 (b). When a member relies on the hedging agreement between the fund company or the financial institution and the MFDA, the member must ensure that the MFDA has been provided for each company with which it has a conservatory custody the following documents: after receiving and verifying the above elements, additional documents (i.e. statutes, the last financial statements audited); Documents supporting registration as an investment fund manager) are requested by the custodian. As part of the MFDA`s due diligence in verifying the custodian`s adequacy as an acceptable investment site, the MFDA will verify whether the investment fund company or financial institution has already entered into a fiduciary deposit agreement with another securities self-regulatory body. MFDA rules state that members who hold title or clients or other investment products outside their physical property must ensure that the assets are held on an “acceptable securities site.” If the requirements are not met, a member must have sufficient regulatory capital to cover a deduction on his capital equal to the market value of all assets held in an unacceptable location. The general notes and definitions in Form 1 of the MFDA define acceptable securities sites. To meet this definition, two conditions must be met: (i) the site itself must be an entity in the general notes and definitions; and (ii) a written interim custody agreement must be entered into with that body, which specifies the conditions and conditions on which these securities or other investment products are deposited. Customer security and other investment products may be held by the member on behalf of the client, in the form of a certificate, if kept in deposit, or in a form labelled or not in the name of the nominated name. Investment products include securities of any type (without restriction), investment funds, investment funds, pensions and other types of insurance contracts, deposits and deposits of all kinds, in any form (i.e. certified, non-certified). and any act or refusal to act by the fund/manager/financial institution in accordance with these conditions or conditions or provisions is not considered a violation of this Agreement. Notifications from MFDA staff should help members and their approved individuals interpret, enforce and comply with the requirements of the MFDA`s statutes and rules.