THE 360 NEWSLETTER

Always with the goal of achieving the highest level of efficiency for you and your clients, we would like to provide an important reminder regarding internal transfers made between two Investia nominee accounts.

Lately we have noticed an increase in the number of internal nominee transfers being processed by the Representative when they should be processed at Head Office level given their potential tax implications, as per Administrative Procedure # 51. This situation will require adjustments to be made by our team, which could lead to errors or delays in processing, client payment and tax slip reporting.

It is important to remember that only the following types of internal nominee transfers should be processed by the Representative:

As for the following types of transfers, the request should always be sent to Head Office for processing:

• Any other type of situation not indicated above;
• Internal transfers involving US funds, GICs, ETFs, non-Fundserv products and products whose fund status is other than active;
• Internal transfers involving non-individual accounts (such as corporate, ITF or trust accounts).

For more detailed information, please read Administrative Procedure # 51 – Internal In-Cash or In-Kind Transfers Between Two Nominee Accounts (Investia Nominee Accounts), which can be found on the Advisor Centre under Procedures and Forms / Administrative Procedures.