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EMDA News
EMDA NewsApril, 2010

The New Insurance Rules for EMDs Are Here

 
As of March 28, 2010, every exempt market dealer (EMD) in Canada must have in place the minimum amount and type of insurance coverage as prescribed by National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103).
 
Prior to the creation of the EMD category under NI 31-103, there were no insurance requirements applicable to limited market dealers in Ontario and Newfoundland and Labrador. So this is new for all EMDs across Canada, whether mapped over from the former limited market dealer registration or new registrants altogether.
 
Full article

EMD Insurance Requirements (Part II)

 
As discussed in Part I of this Special Series involving Insurance for EMDs (i.e., Exempt Market Dealers), as of March 28, 2010, every EMD must have in place the minimum amount and type of insurance coverage as prescribed by National Instrument 31-103 Registration Requirements and Exemptions (NI 31-103). Part I also discussed the various insurance requirements under NI 31-103 as it applies to EMDs. 
 
This article discusses the benefits of obtaining insurance through the EMDA Insurance Program (defined below) and provides examples of the cost of insurance for four EMD based on the number of people (i.e., employees, agents or dealing representatives of an EMD). We would like to thank Mr. Peter Bryant, a registered insurance broker in the Province of Ontario and a Partner at Jones Brown Inc., the broker of record of the EMDA Insurance Program who provided the information in this article.
 
 
Full article

Get Started! Financial Services May No Longer Be Exempt from the GST/HST

By Stephen Warden, CA, CMC, parker simone LLP
 

The ground may be shifting beneath the feet of financial services providers when it comes to the GST and HST. Over the winter and spring, the federal Department of Finance and CRA have been volleying back and forth on defining what a financial service is for GST/HST purposes. Exempt Market Dealers are caught squarely in the middle as we await revisions to the draft legislation. EMDA Board member,  Stephen Warden, CA, CMC from parker simone LLP, Chartered Accountants explains why you should be concerned - and what you should do about it.

 

Full article