Introducing and Carrying Broker Disclosure
We wish to remind you of the relationship between GMP Private Client L.P. (the Introducing Broker) and GMP Securities L.P. (the Carrying Broker). The Carrying Broker is our agent for trading, clearing and settlement of transactions we execute for you. As our agent, GMP Securities L.P. will:
- issue and receive cheques and deliver and receive securities on our behalf with respect to all transactions directed through the Carrying Broker for you;
- be responsible for issuing the receipt, the delivery, and the safekeeping of funds and securities received from GMP Private Client L.P.;
- be responsible for issuing confirmation slips and the statements of accounts for all transactions directed through the Carrying Broker.
- If we open a margin account for you, GMP Securities L.P. will loan you money for the purpose of purchasing or holding securities subject to the terms of GMP Securities L.P.'s written Margin Agreement, applicable regulatory margin requirements, and GMP Securities L.P.'s and/or GMP Private Client L.P.'s margin policies which may be more stringent than regulatory minimums. GMP Securities L.P. will bear full responsibility for all client regulatory capital required by the Investment Industry Regulatory Organization of Canada.
GMP Securities L.P. does not control, audit or otherwise supervise the activities of GMP Private Client L.P., or its employees.
GMP Private Client L.P., the Introducing Broker, will:
- be solely responsible for determining or supervising the suitability of all trading activity, including the nature of securities purchased, the portfolio structure of the accounts and the opening and initial approval of accounts.
- bear full responsibility for all client regulatory capital required by the
Investment Industry Regulatory Organization of Canada.
If you have any questions regarding the relationship between GMP Private Client L.P. (the Introducing Broker) and GMP Securities L.P. (the Carrying Broker) please contact your Investment Advisor.