Governance & Internal Controls

Canadian Investor Protection Fund (CIPF)

CIPF was established by the investment industry with the mandate to maintain adequate resources to return assets belonging to eligible customers in cases where the CIPF Member becomes insolvent. Each investment dealer contributes to a substantial fund that CIPF maintains. CIPF is not a government organization. Payments to clients are determined independently by CIPF, not by the investment dealers.

Investment Industry Regulatory Organization of Canada (IIROC)

PWL Capital is required to undergo two regulatory audits.

• The sales compliance audit covers:
  • investment objectives,
  • risk parameters established with the clients,
  • suitability of investments
  • and compliance with regulated internal procedures.

• 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, IIROC issues a compliance report listing the modifications or improvements required. After IIROC has submitted its report, the member firm must indicate how it plans to correct the deficiencies that have been identified. IIROC then follows up on the implementation of corrective measures.

Centre for Fiduciary Excellence, LLC (CEFEX)

PWL is among the first Investment Advisor firms globally to successfully complete CEFEX’s independent certification process.

CEFEX is an independent global assessment and certification organization that helps determine the trustworthiness of investment fiduciaries. CEFEX certification means that the organization recognizes PWL’s compliance with a defined standard of practice, and that PWL has demonstrated its adherence to the industry’s best practices and is positioned to earn the public’s trust.

The annual certification process involves a detailed assessment of operational data and procedures, as well as on-site interviews with key personnel.

PWL is registered at www.cefex.org, where its certificate can also be viewed.

Global Association of Independent Advisors (GAIA)

GAIA is an international network of independently owned investment advisory firms, whose overriding commitment to fiduciary excellence ensures they always put their clients’ interests first.

PWL Capital is the only Canadian firm to have qualified for GAIA thus far. Membership in GAIA is strictly limited to fee-based wealth advisors who are not aligned with financial institutions. And GAIA members are required to obtain and maintain CEFEX certification.

National Bank Independent Network (NBIN)

Our carrying broker, NBIN, safeguards your assets, as they are responsible to execute and monitor all trade orders and administrative requests such as withdrawals and transfers between accounts. NBIN must comply with the regulations of the Investment Industry Regulatory Organization of Canada (IIROC) and the securities commissions’ (Autorité des marchés financiers du Québec).

Member

PWL Capital Inc. is a member of:

• The Canadian Investor Protection Fund (CIPF)
• The Investment Industry Regulatory Organization of Canada (IIROC)