What are IIROC rules?

What are IIROC rules?

The IIROC Rules govern the activities of investment firms and, together with IIROC’s existing Universal Market Integrity Rules (UMIR), comprise IIROC’s regulatory framework. This HTML version of the IIROC Rules has been prepared to enable improved rule access.

Is IIROC federal or provincial?

The IIROC operates under Recognition Orders from the provincial and territorial securities commissions that make up the Canadian Securities Administrators (CSA).

Is IIROC federally regulated?

Welcome to IIROC The Investment Industry Regulatory Organization of Canada is the pan‑Canadian self‑regulatory organization that oversees all investment dealers and trading activity on Canada’s debt and equity marketplaces.

How do SMAs work?

A separately managed account (SMA) is a portfolio of securities you can invest in. It’s similar to an ETF or mutual fund. However, when you invest in a SMA, you own all the securities within your portfolio.

How can I get MFDA license?

A business must apply to become a Member of the MFDA and at the same time, it must apply to the securities regulatory authority in every jurisdiction in which it intends to operate to become registered as a mutual fund dealer. Please review the MFDA Application Form for MFDA application requirements.

What are the benefits of SMAs?

Pros of SMAs

  • SMAs provide direct ownership of securities.
  • SMAs can be tax efficient.
  • SMAs are transparent.
  • SMAs may outperform benchmarks.
  • You may need to be rich to invest in some SMAs.
  • SMA fees can be unpredictable.
  • A single SMA manager may not be an expert on every investment strategy and every asset class.

What are the disadvantages of managed portfolio?

What Are the Disadvantages of Portfolio Management?

  • Inappropriate Allocation of Resources: Time and money are two fundamental resources for businesses of any size, and PPM uses both.
  • Difficult Decisions: Prioritization can be very difficult, and sometimes you need to make tough decisions.