The best interest of the investors must always come first.

An agency agreement between deposit brokers and financial institutions must be in place. Deposit brokers must have established procedures for dealing with the financial institutions with whom they have signed agreements. Procedures may be in the agreement, or by supplementary manual or memo.


Deposit Brokers must have an agency agreement with all sub-agents that are conducting business on their behalf.


Deposit Brokers must be appropriately licensed in the provinces in which they conduct business.


Deposit Brokers may accept only cheques payable to the financial institution or to the client, stamped on the reverse and endorsed over to the financial institution for the purchase of fixed term deposits.

Deposit Brokers may use a trust account provided they have received authorization from the provincial securities commission or any other applicable regulatory body. In these cases cheques could be payable to the Deposit Broker in trust.


Financial Institutions should set up a direct deposit account (where possible) and investments must commence on the day the funds are received by the financial institution and no later than the following business day (except in the case of postdated cheques).


An investment confirmation must be given tot he investor on the day of investment from the deposit broker (generic form of GIC's is permissible) full disclosure of the terms and conditions of the investment must be made to the investor at the time of investment and must be clearly marked on the investment receipt.


Financial Institutions send a confirmation/certificate without delay to the Deposit Broker and the Deposit Broker confirms and forwards on to the investor. The investor can expect official confirmation within four weeks. In some cases financial institutions send confirmations directly to the investor with a copy to the Deposit Broker.


The investor must be notified 10 days prior to the investment maturity date either by the Deposit Broker or the financial institution.


Advertising and calculation of interest rates must conform to regulatory requirements and not mislead the public.


Training and educational standards for persons selling investments must be professional and thorough.