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Exempt Market Dealers
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An Exempt Market Dealer (often abbreviated to “EMD”) is a firm that has been licensed to distribute investment securities that haven't been qualified by a prospectus, but are exempt from the prospectus requirement based on the rules and regulations of each province where the EMD is registered to carry on business.
A firm registered as an EMD is permitted to engage in the following activities set out under subsection 7.1(2)(d)of NI 31-103
(i) act as a dealer by trading a security that is distributed under an exemption from the prospectus requirement, whether or not a prospectus was filed in respect of the distribution
(ii) act as a dealer by trading a security that, if the trade were a distribution, would be exempt from the prospectus requirement
(iii) receive an order from a client to sell a security that was acquired by the client in a circumstance described in subparagraph (i) or (ii), and may act or solicit in furtherance of receiving such an order, and
(iv) act as an underwriter in respect of a distribution of securities that is made under an exemption from the prospectus requirement.
A firm registered as an EMD is permitted to engage in the following activities set out under subsection 7.1(2)(d)of NI 31-103
(i) act as a dealer by trading a security that is distributed under an exemption from the prospectus requirement, whether or not a prospectus was filed in respect of the distribution
(ii) act as a dealer by trading a security that, if the trade were a distribution, would be exempt from the prospectus requirement
(iii) receive an order from a client to sell a security that was acquired by the client in a circumstance described in subparagraph (i) or (ii), and may act or solicit in furtherance of receiving such an order, and
(iv) act as an underwriter in respect of a distribution of securities that is made under an exemption from the prospectus requirement.
Becoming an EMD requires registration with one or more securities regulatory authorities across Canada pursuant to NI 31-103. In addition to firm’s registration as an exempt market dealer, each firm will be required to register a Chief Compliance Officer, Ultimate Designated Person to ensure compliance with the regulatory requirements and obligations.
OUR SERVICES INCLUDE:
. Registration in all Canadian jurisdictions.
. National Registration Database Filings.
. Regulatory filings.
. Drafting Policies and Procedures Manuals.
. Conducting reviews of a registered firm’s policies, procedures and operations.
. Conducting AML assessments required under money laundering and terrorist financing legislation.
. Designing and monitoring compliance systems.
. Monitor for improvement plans imposed by regulators.
. Conflicts of Interest audits.
. Registration in all Canadian jurisdictions.
. National Registration Database Filings.
. Regulatory filings.
. Drafting Policies and Procedures Manuals.
. Conducting reviews of a registered firm’s policies, procedures and operations.
. Conducting AML assessments required under money laundering and terrorist financing legislation.
. Designing and monitoring compliance systems.
. Monitor for improvement plans imposed by regulators.
. Conflicts of Interest audits.
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