The Investment Industry Regulatory Organization of Canada has released the IIROC List of Bare Trustee Agreements as of March 31, which includes Hymas Investment Management Inc. as a “bare trustee” for Malachite Aggressive Preferred Fund.
The significance of this agreement is found in the Joint Regulatory Financial Questionaire and Report (click “Joint Regulatory Financial Questionnaire And Report”, “Dealer Member Rules”, “Forms”, “PDF”; strangely, the direct link requires a password). HIMI is now an “acceptable securities location” and hence when filling out the “Statement of Net Allowable Assets and Risk Adjusted Capital” (page 14 of the PDF), positions held in the fund on the broker’s books no longer have to be included on line 18, “Securities held at non-acceptable securities locations”, as a 100% deduction from capital.
Incidentally, do you see line 20 of that form, “Unresolved Differences”? That line was my job, back in the Richardson Greenshields days.
James I just wanted to say you are going a great job convering the canadian market for preferred.
whenever I read an article about preferred somehow you or your firm are mentioned or quoated giving your opinon.
keep up the good work.
Thanks!
Congratulation James, this means that your word is Gospel now. Right?