THE 360 NEWSLETTER
Trade Rejections – Preauthorized Chequing Plans (“PAC”) – Investia Nominee Accounts
Best practices July 28, 2022Please note that effective Monday, August 1, 2022, a change will be made to the processing of trade rejections related to preauthorized chequing plans (PAC) in Investia nominee accounts.
Going forward, when a purchase involving a PAC is rejected because the selected fund(s) is (are) closed to new investments (capped), the portion of the programming of the rejected fund(s) will automatically be redirected to the client’s cash account.
As is currently done, a notice will be sent to you to notify you of this rejection so that you can adjust the PAC programming in Univeris and make the required purchase once the new fund(s) has (have) been selected with your client.
If no action is taken after receipt of this notice, the portion of future contributions made involving the closed fund(s) will automatically be directed to the cash account and no further communication will be sent to you.
Should you have any questions, please contact our Client Services Department, by email at investia@investia.ca or by phone at 1-888-684-5548.
Also in this issue
- Availability of June 30, 2022 Statements
- Investia Intermediary Transfer Program
- Upcoming Canada Life Segregated Fund Conversion
- KYP Obligation Reminders and Compliance Oversight
- Univeris AccountXPRESS – Removal of Unnecessary Fields
- 2022 Annual Administrative Fee Billing
- Civic Holiday on Monday, August 1, 2022
- 6 Good Habits to Adopt to Be Cybercareful – Tip #1
- Help Preserve Your Client’s Memories with the Help of STEP (PPI)
- 2022 Mid-Year Review – Insights on the Economy and the Markets
- CashMonitor Report – July 2022
- Quarterly Outlook and Asset Allocation Target – July 2022
- Reminder – Fund Companies and Intermediaries Logistics