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To get in touch with Ryan Caldwell or Dick Deweert of Auxano Wealth Group, you may contact us at 1.403.524.3883 or email:
ryan@auxanowealth.com
dick@auxanowealth.com
Beginning in
September 2009, the Securities Regulators began a process (National
Instrument 31-103) that brought into effect wide scale changes to our
industry including harmonizing the securities process in all the
individual provincial and territorial commissions. The final date for
these changes was September 28, 2010. Our segment of the industry known
as Exempt Market Products, is now regulated.
1. All Exempt Market Representatives must become registered and licensed with the regulators. In order to make this possible, Auxano has become a branch office of a larger licensed dealer, Foundation Securities Corporation (formerly known as Foundation Capital Corp.), of Calgary, Alberta.
2. All representatives are required to take the Canadian Securities course on Exempt Market products and must be registered and licensed with the Securities Commission.
3. Dealers are now required to do additional due diligence, including audits on individual investments to assure the projects are sound and reputable as well as carry liability insurance.
4. Issuers (like Foundation Securities), must go through stringent process to provide due diligence which include complete audits, regular updates and full disclosure.
5. Branch Offices (Auxano) must take effective steps to protect clients files and personal information. (locked in a vault, computer files protected etc.) Failure to do so can result in severe penalties.
6. All licensed representatives are obligated to take personal and financial information from clients to determine suitability for investment. (know your client form)
What does this mean to you? There is much greater accountability, transparency and regulatory governance in the industry which will result in a much more secure investing environment.
We welcome these changes as they will have a positive affect on the whole industry while providing a much safer investment climate for all our clients.
1. All Exempt Market Representatives must become registered and licensed with the regulators. In order to make this possible, Auxano has become a branch office of a larger licensed dealer, Foundation Securities Corporation (formerly known as Foundation Capital Corp.), of Calgary, Alberta.
2. All representatives are required to take the Canadian Securities course on Exempt Market products and must be registered and licensed with the Securities Commission.
3. Dealers are now required to do additional due diligence, including audits on individual investments to assure the projects are sound and reputable as well as carry liability insurance.
4. Issuers (like Foundation Securities), must go through stringent process to provide due diligence which include complete audits, regular updates and full disclosure.
5. Branch Offices (Auxano) must take effective steps to protect clients files and personal information. (locked in a vault, computer files protected etc.) Failure to do so can result in severe penalties.
6. All licensed representatives are obligated to take personal and financial information from clients to determine suitability for investment. (know your client form)
What does this mean to you? There is much greater accountability, transparency and regulatory governance in the industry which will result in a much more secure investing environment.
We welcome these changes as they will have a positive affect on the whole industry while providing a much safer investment climate for all our clients.