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Self-Regulatory Organization Membership

The SRO membership process is lengthy and expensive. We can help you at two stages:

The basics:

  • Do you need to be an SRO member?
  • What are the advantages and disadvantages?
  • Would it be advantageous to take over an existing dealer? We can help with the due diligence if you do.
  • What’s the best strategy to transition from one type of dealer to another?

The application process:

  • Drafting the application
  • Drafting a business plan.
  • Capital – how much will you need?
  • Selecting a carrying broker.
  • Developing policies and procedures
  • Individual approval requirements and exemptions.

We understand how to work with regulators and make their jobs easier, too.  When we work on an application, the regulator knows that it will be thorough and professional.  This can help expedite your file and built up a level of goodwill that will help resolve later issues quickly and satisfactorily.

Negotiating with regulators

The regulation of financial services in Canada is more principles-based than in many other countries, and is continuing to move away from prescription. The issues are not always clear-cut and the requirements are not specific.

Regulators do not want cookie cutter solutions; they want something that fits with both their standards and your particular business. Nearly every situation is unique. We can work with you to develop solutions that address the intent of the rules and working for your business. And we can help persuade the regulators that the solution achieves those goals, or help develop the final touches that will meet their expectations.

Dealers we have assisted:

  • All Group Financial Services Inc.
  • BBS Securities Inc.
  • GMP Private Client LP
  • Genuity Capital Markets Inc.
  • OMG Wealth Management Inc.
  • optionsXpress Canada Corp.
  • Secutor Capital Management Corporation
  • Toll Cross Securities Inc.

 

 

Did you know?

 You are not required to have a physical location in Canada.

We can tell you how.

You can have your discretionary management operation either as part of the IIROC firm or as a separate registered adviser.

We can advise you on the pros and cons of each approach and help you select the implement the right one.