THE 360 NEWSLETTER

As part of the latest Fundserv update, the Electronic Processing Agreement (EPA) was made universal, which resulted in fund manufacturers no longer accepting documentation/paper instructions from dealers like Investia. As a result, whenever possible, Investia should no longer be sending additional paper instructions, such as withholding tax requests for client-name redemptions, to the fund company after placing an order through Univeris.

For this reason, as part of the next Univeris update scheduled for the weekend of November 17, a new feature will be added to the Univeris system. Effective Monday, November 20, 2023, when processing a client-name redemption, Representatives will be able to add additional taxes in the system, where applicable, instead of sending the request to the fund company for processing.

Administrative Procedure #3A – Redemption – Client-Name and Intermediary Accounts, will be amended in the coming days to reflect this change.

Should you have any questions or require additional information, please contact our Client Services Team, by email at investia@investia.ca, by phone at 1-888-684-5548, or use the chatbot feature available on the Advisor Centre.