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This week’s post in our series on the categories of registration looks at investment dealers. An investment dealer is an individual or a firm that can sell a wide range of investment products.
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This week our continuing series on the categories of registration looks at mutual fund dealers. A mutual fund dealer, as you may have guessed, is allowed to sell mutual funds.
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Our look at categories of registration continues this week with exempt market dealers. An exempt market dealer is a firm or individual that sells or advises on exempt market products. An exempt market product can be sold without a prospectus and as a result offers less protection for investors.
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At the Nova Scotia Securities Commission, we regularly get questions about categories of registration. This includes questions surrounding what the categories are, and what they allow a person to offer and not offer. Instead of rolling out a lengthy post running down all of the categories of registration we’ve decided to split it up and highlight one each week for the next month. Today we’ll start with scholarship plan dealers.
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SEDAR stands for System for Electronic Document Analysis and Retrieval. You can see why we needed an acronym. Found online at www.sedar.com, SEDAR is administered by the Canadian Securities Administrators (CSA) and operated by the Alberta Securities Commission (ASC). SEDAR is the electronic system used by public companies and investment funds to officially file documents. This fulfills three objectives:
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We have mentioned the CSA in some of our older blog posts, but it dawned on us the other day that we’ve never explicitly detailed who and what the CSA is.
The Canadian Securities Administrators (CSA) is made up of the securities regulators in Canada’s 10 provinces and three territories. That includes the Nova Scotia Securities Commission. The CSA’s primary responsibility is to develop a harmonized approach to securities regulation across Canada.
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With the rising popularity of cryptocurrencies and initial coin offerings (ICOs) Blockchain has also become a very popular subject among investors and those interested in finance overall. Most people that aren’t cryptocurrency adapters or ICO investors have a hard time understanding what blockchain is.
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We’d love to say that all Canadians have a strong knowledge of investing and finances, but according to our most recent Investor Index Survey that most likely isn’t the case.
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We get this question occasionally from people cleaning out an old desk or office, executors of estates and relatives cleaning out a deceased’s old safety deposit box. Companies may not issue stock certificates anymore, but there are still plenty gathering dust out there. So, if you find out in a drawer or amongst your parent’s old financial papers what can you do with it?
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In order to be able to recommend an investment product that is suitable for a client’s investments needs and objectives, a financial adviser is required to take reasonable steps to know his or her client. This is called the “Know Your Client” or “KYC” obligation.