Governance and Internal Controls
Compliance, Controls and Privacy
Christiane Gazaille, PWL’s Chief Compliance Officer (CCO) exercises tight control over all business activities.
- Ensures all regulatory rules and internal policies are respected
- Conducts quarterly audits of managed accounts for:
- Portfolio asset mix drift compared to the IPS
- Verifies approved securities within PWL portfolios
- Monitors concentration risk within PWL portfolios
The Privacy Officer ensures that your personal information is safeguarded and that client confidentiality is respected at all times.
PWL does not manufacture or distribute “in-house” products and therefore avoids conflicts of interest.
We use the highest level of internal controls to monitor all portfolios. You can be sure that your portfolio benefits at all time from four levels of monitoring and control:
Internal controls: Under the supervision of the Compliance Officer, the PWL team responsible for brokerage operations verifies each trade completed for each client's account in accordance with regulatory requirements. Moreover, PWL's Compliance Officer audits each managed account on a quarterly basis to ensure that the investments comply with the client's signed investment policy.
Canadian Investor Protection Fund (CIPF): CIPF was created by the investment industry to ensure that client assets are protected – within defined limits – if a CIPF Member becomes bankrupt. Assets include cash, securities and certain other property such as segregated insurance funds. CIPF is not a government organization. Payments to clients are determined independently by CIPF, not by the investment dealers.
TD Waterhouse Institutional Services (TDWIS): Our carrying broker, TDWIS, safeguards your assets, as they are responsible to execute and monitor all trade orders and administrative requests such as withdrawals and transfers between accounts. TDWIS must comply with the regulations of the Investment Dealer’s Association (IDA) and the securities commissions' (Autorité des marchés financiers du Québec).
The IDA: As a member of the IDA, PWL Capital is required to undergo two regulatory audits.
a) The sales compliance audit covers:
- investment objectives,
- risk parameters established with the clients,
- suitability of investments
- and compliance with regulated internal procedures.
b) The financial compliance audit covers:
- day-to-day administrative processes,
- validation of financial statements,
- regulatory capital requirements and the usual financial processes.
After each audit, the IDA issues a compliance report listing the modifications or improvements required. After the IDA has submitted its report, the member firm must indicate how it plans to correct the deficiencies that have been identified. The IDA then follows up on the implementation of corrective measures.
Small is safe
We’re small enough to know everything that’s going on in our shop...
- With your advisor and with your investments.
- To have total control over all our market transactions and all activities of the firm.
- To audit, reconcile and approve all transactions. Every. Single. Day. 100%
You don't want to worry about your money. You want to get on with your life. That's where we can help.
Member
PWL Capital Inc. is a member of:
Compliance Officer:
Christiane Gazaille
PWL Capital Inc.
215 avenue Redfern, bureau 200
Westmount (Québec) H3Z 3L5
Tel.: (514) 875-7566 x 231, Fax: (514) 875-9611
1 800 343-7566
Email: cgazaille@pwlcapital.com