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For Brokers applying for a Regular
or Associate membership please provide:
1. A letter outlining your experience as a deposit broker. Include
date business established or length of time that you have been active
as a deposit broker. If you have no specifically related experience,
outline your activities in other areas of financial services relating
to the placement of client funds.
2. Details of your office premises, location, hours of business
and number of staff in order to provide indication that consumers
can make deposits at your place of business during normal working
hours through qualified personnel.
3. Provide character references from a least three sources, two
of whom must be either a trust company, savings and loan company,
or bank. (see sample letter below)
4. Letters of reference from four different FCIDB Member trust
companies, savings and loan companies, credit unions or banks confirming
that you have at least $500,000 in deposit volume with them (see
sample letter below). For quicker processing please send your letter
of reference with this application and cheque via ICS.
5. An outline of your current procedures for taking deposits on
behalf of clients. Make specific reference to trust accounts and
banking procedures that you may be using in this activity.
6. A list of professional associations in which you are currently
a member in good standing.
7. If you, a partner, or an officer, director or employee of or
the firm ever been subject to disciplinary action by any regulatory
authority, please attach full details.
8. If any application for errors and omissions insurance, or bonding
has been declined, cancelled or renewal refused within the last
five years, please attach full details.
For Brokers applying for a Provisional
membership please provide:
1. A letter outlining your experience as a deposit broker. Include
date business established or length of time that you have been active
as a deposit broker. If you have no specifically related experience,
outline your activities in other areas of financial services relating
to the placement of client funds.
2. Details of your office premises, location, hours of business
and number of staff in order to provide indication that consumers
can make deposits at your place of business during normal working
hours through qualified personnel.
3. An outline of your current procedures for taking deposits on
behalf of clients. Make specific reference to trust accounts and
banking procedures that you may be using in this activity
4. Provide character references from a least three sources, two
of whom must be either a trust company, savings and loan company,
or bank. (see sample letter below)
5. Letters of reference for the volume in business attained so
far from trust companies, savings and loan companies, credit unions
or banks (see sample letter below). For quicker processing please
send your letter of reference with this application and cheque via
ICS
6. A list of professional associations in which you are currently
a member in good standing.
7. If you, a partner, or an officer, director or employee of or
the firm ever been subject to disciplinary action by any regulatory
authority, please attach full details.
8. If any application for errors and omissions insurance, or bonding
has been declined, cancelled or renewal refused within the last
five years, please attach full details.
For Brokers applying for a Affiliate membership
please provide:
1. Letter containing details of the company you are affiliated
with, of your office premises, location, hours of business and number
of staff in order to provide indication that consumers can make
deposits at your place of business during normal working hours through
qualified personnel.
2. Letter of reference from the head office of the company you
are affiliated with confirming that you are an employee and/or are
affiliated with that company.
3. A list of professional associations in which you are currently
a member in good standing.
4. If you, a partner, or an officer, director or employee of or
the firm ever been subject to disciplinary action by any regulatory
authority, please attach full details.
5. If any application for errors and omissions insurance, or bonding
has been declined, cancelled or renewal refused within the last
five years, please attach full details.
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