A Dealer Member must apply in writing to IIROC for review and approval of a foreign institution or foreign securities dealer as an acceptable securities location.
Prior to submission to IIROC the application must be approved by the Dealer Member’s board of directors or by a committee of the Dealer Member’s board of directors.
The application to IIROC must include the following:
Form (if IIROC prescribed)
- Foreign custodian certificate
- Dealer Member responses to custodian due diligence questions
- Dealer Member certification of approval of foreign custodian as a location for holding securities
In a form satisfactory to IIROC
- Latest audited financial statements of proposed foreign custodian
Must evidence minimum net worth of C$150 million