Industry Agreements

Fundserv facilitates the development of several centralized agreements between members to standardize business processes, and outline the terms and conditions required to ease pain points in operational practices.

More detailed information on Industry Agreements can be found on our member site.

EPA

The Electronic Processing Agreement (EPA) is a mutual agreement between fund Manufacturers and Distributors that enables a Distributor to send instructions through the Fundserv network without requiring the submission of settlement documentation for eligible Client Name instructions.

For more information on the EPA, please review the following documents:

  1. Electronic Processing Agreement
  2. Eligible Transactions

The lists below outlines all Manufacturers and Distributors that participate in the EPA.

EPA Manufacturers

CodeManufacturers
AGFAGF Management Limited
AGLCWB Wealth Management Ltd
AHPArrow Capital Management Inc.
AIMInvesco Canada Ltd./Invesco Canada Ltée
ATLCIBC Asset Management Inc.
AZLAllianz Life Insurance Company of North America
BIPBrandes Investment Partners & Co.
BMGBullion Management Services
BMIBarrantagh Investment Management Inc.
BMOBMO Investments Inc.
CCMIA Clarington
CHOChou Associates Management
CIBCIBC Securities Inc
CIFCapital International Asset Management
CIGCI Investments Inc.
DFADimensional Fund Advisors Canada Inc.
DLPGorton Capital Inc.
DYNDynamic Mutual Funds
EDGEdgePoint Wealth Management
EXLExcel Funds Management Inc.
FAFFirst Asset Investment Management
FIDFidelity Investments Canada ULC
FIQPortfolio Strategies Securities
FRCRussell Investments
GALGalileo Global Equity
GCMGenus Capital Management Inc.
GGFBMO Mutual Funds
GOCCanoe Financial Limited Partnership
GVCGlobevest Capital Inc.
HARHarmony
JOVJovFinancial Solutions
LDMLandry Morin Inc.
MAVMatrix Management
MFCMackenzie Financial Corporation
MMFManulife Asset Management Limited
NBCNational Bank Securities
NCESentry Select Investments
NWTNorthwest & Ethical Investments L.P.
NXGNexGen Financial Limited Partnership
PCASEI Investments Canada Company
PGFPenderfund
PICPicton Mahoney Asset Management
RBFRBC Funds
SCLStone & Co. Ltd
SLCStarlight Capital
SPRSprott Asset Management LP.
SRIOceanRock Investment Inc.
SUNSun Life Global Investments (Canada) Inc.
TDBTD Mutual Funds
TMITradex Management
TMLFranklin Templeton Investments Corp.
VPIValue Partners Investments
VRTVertex One Asset Management
WOFGrowth Works Capital
YAMHeritage Asset Management

EPA Distributors

CodeDistributors
7561Acadia Financial Services Inc.
9721Assante Capital Management Ltd.
7646Assante Financial Management Ltd.
7950Belay Wealth Inc.
3436Cabinet D’assurance Banque Nationale
9952CABN Placements Inc.
9959Canfin Magellan Investments
7821Carte Wealth Management
9962Credential Asset Management
7730Excel Private Wealth Inc.
7587Gestion Excel Privée
7891Gestion Excel Privée
7597GP Wealth Management Corporation
9525HollisWealth Advisory Services Inc.
9212HollisWealth, a division of Scotia Capital Inc.
7752IPC Investment Corporation
9595Keybase Financial Group Inc.
9744Keybase Financial Group Inc.
7620Monarch Wealth Corporation
9112Multi Courtage
9483Professional Investments Inc.
7907Portfolio Strategies Corporation
7968Portfolio Strategies Corporation
9499Portfolio Strategies Corporation
7753Qtrade Asset Management
7815Qtrade Securities
9535Security Financial Services & Investment Corp.
9181Worldsource Financial Management Inc.

NR Agreement

The NR Agreement outlines that Manufacturers will rely on Distributors to identify and advise the Manufacturer of a client’s jurisdiction for tax purposes and to maintain appropriate supporting documentation.

Manufacturers will rely on the tax code and withhold tax on any distributions at the rate appropriate to that country unless the Distributor instructs that another rate be used. In return, Manufacturers agree to not contact clients for such information.

These agreements are housed by Fundserv, ensuring each Distributor must only sign one form that will be relied upon by all Manufacturers that have signed a corresponding agreement.

Manufacturers seeking more information on the NR Agreement should:

  1. Contact James Carman, Senior Policy Advisor, Taxation, Investment Funds Institute of Canada (IFIC) 
  2. Download:

Distributors seeking more information on the NR Agreement should:

  1. Contact Adrian Walrath, Director, Investment Industry Association of Canada (IIAC)
  2. Download:

FATCA & CRS

The Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) Process Agreements facilitate Fundserv members’ ability to adhere to regulations and minimize paperwork.

Foreign Account Tax Compliance Act (FATCA) 

Canadian financial institutions are required to identify account holders who are U.S. persons for U.S. tax purposes (both U.S. tax residents and U.S. citizens) and to report certain information about those accounts to the Canada Revenue Agency, who exchanges this information with the U.S. Internal Revenue Service (IRS).

For more information on FATCA, please review the CRA’s information on enhanced financial account information reporting.

Common Reporting Standards (CRS) 

Effective July 1, 2017, Canadian financial institutions are required to identify and report information on accounts held by persons who are resident in any country other than Canada or the U.S for tax purposes. The CRA will then exchange this information with tax authorities of the participating countries.

For more information on CRS, please review the CRA’s information on Common Reporting Standards.


Systematic Plan Customer Agreement

The Systematic Plan Customer Agreement enables Manufacturers to accept instructions for the setup of automatic payment, withdrawal or re-allocation plans in accordance with CPA rules through the Fundserv network without also requiring investor-signed authorization.

In June of 2016, the Systematic Plan Customer Agreement Addendum was added to the original agreement to ensure Manufacturers that Distributors are obtaining client consent to debit their bank accounts for Pre-Authorized Chequing plans.

For more information, please review the Systematic Plan Customer Agreement Addendum.


e-Signature Guidelines & Customer Agreement

The e-Signature Guidelines and Customer Agreement Addendum provides both a standardized approach for the use of e-signature technology in the investment funds industry as well as a reliance on the validity of e-signatures, and enables Dealers and Manufacturers to use e-signed, digital documentation rather than requiring paper signatures.

Fundserv’s e-signature document package consists of three parts:

  1. A Guidelines Document that defines a common set of minimum criteria that all members will use when obtaining electronic signatures.
  2. A Contract Addendum that defines the terms and conditions between members when e-signed documents are sent to another party for the execution of client instructions.
  3. A Companion Paper that provides background on the purpose of this initiative and helps to answer frequently asked questions.

Connect with a member of our team to learn more.