Examples of Joint service arrangements in a sentence
Joint service arrangements refer to arrangements in which mutual fund dealers and investment dealers jointly service clients who maintain accounts at the investment dealer.
The OSC has identified a number of business arrangements between mutual fund dealers and investment dealers that appear to have developed to meet client demand for one-stop financial shopping and portfolio consolidation, but is particularly interested in the following business arrangements: • Maintenance of omnibus accounts for mutual fund dealers at investment dealers, and• Joint service arrangements.
Joint service arrangements – under these arrangements, a mutual fund dealer and an investment dealer jointly service a client who maintains an account at the investment dealer.At the request of the OSC, the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Dealers Association of Canada (IDA) issued a Joint Notice in June 2004 instructing their members not to enter into any new joint service or omnibus account arrangements, and not to accept new clients utilizing any existing arrangements.
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