Should you be working with an Exempt Market Dealer?
Due to recent amendments to securities legislation by the British Columbia Securities Commission ("BCSC"), MICs and Private Mortgage Syndicators are no longer exempt from the Dealer Registration Requirement. *See Multilateral CSA Notice 32-302. The exemption for Mortgage Investment Entities (BCI 32-517) was revoked on February 15, 2019 and the Northwest Exemption (BCI 32-513) was revoked on April 30, 2019.
What does this mean for MICs and Syndicators?
It means that we are required to either be registered as an Exempt Market Dealer ("EMD") or work with a third party EMD in order to comply with the Securities Commission.
Mandate Mortgage Management Corp. ("MMMC") is currently registered as an EMD in British Columbia. MMMC's job is to implement a prudent compliance regime that will exceed expectations of the BCSC while maintaining your existing work flow and doing such in a cost effective manor.
How can we help you stay on side with securities law?