Portfolio Management Techniques Flashcards
Registration Categories under NI 31-103
Firms in Ontario must be registered wit the appropriate regulator, either the Ontario Securities Commission or an approved self regulatory organization, namely the Investment Regulatory Organization of Canada (IIROC) or the Mutual Fund Dealers Association of Canada (MFDA). Firms can fall into several categories of registration, under two main categories of dealers and advisors.
Dealer
A dealer is a person or company who is in the business of trading securities in the capacity of a principal or agent.
Investment Dealer
A dealer who engages in the business of trading in securities in the capacity of an agent or principal and is a dealer member of IIROC. An investment dealer also has the authority to act as an underwriter.
Mutual Fund Dealer
A dealer registered exclusively for the purpose of trading in shares or units of mutual funds. Other than in Quebec, a mutual fund dealer must be a member of MFDA.
Scholarship Plan Dealer
A dealer who is restricted to scholarship plans, educational plans, or educational trust investments.
Exempt Market Dealer
A dealer who trades or advises in the exempt market , such as private placements.
Restricted Dealer
An open category that will allow flexibility in registration
Portfolio Manager
Persons or companies who manage the investment portfolios of clients through discretionary authority granted by the clients
Restricted Portfolio Manager
Persons or companies who act as an adviser in respect of a security in accordance with the terms, conditions, restrictions or requirements applied to its registration.
Dealing Representative
An individual who may act as a dealer or an underwriter in respect of a security that the individual’s sponsoring firm is permitted to trade or underwrite.
Canadian Securities Administrators
A working group of regulators from each provincial and territorial regulator and is charged with forging uniformity in regulation where possible.
High Closing
Entering a higher bid price at closing to artificially inflate the price and increase the NAV
Late Trading
Mutual fund allows a trader to enter an order to either purchase or sell after the established cut off time
End Values
The end towards which a person strives and influence how a person acts today to achieve tomorrow’s goals. They include a sense of accomplishment, family security, self respect, social recognition, and wisdom.
Means Values
Actions taken to achieve a future goal. These include ambition, competence, honesty, independence, and responsibility.