Go-Betweens and Salespersons

Go-betweens are individuals or companies that put a customer in touch with an Investment Management Company or an Asset Management Company to:

• Open a securities account;
• Get investment advisory or management services for a fixed period of time;
• Transfer orders to their clients.

In addition to the individual persons and companies authorized for this purpose, banking institutions are authorized also to carry out the activities of go-betweens.
Canvassing activities are considered to include all transactions carried out by those who usually go either to the house or to the residence of persons, or to their work premises, or to public and other premises not reserved for such purposes with a view to provide advisory services for the subscription, purchase, exchange, sale of securities, or to participate in transactions on such securities.

Canvassing activities also include sales negotiations, the delivery of services or advisory support provided usually with a view to obtaining the same results as those mentioned in the previous paragraph, at home or at the residence of persons or on their work premises by sending letters or circulars, or by making phone calls.

The conditions for approving Go-betweens and Salespersons are defined in CREPMF’s General Rules and Regulations and under CREPMF’s Instruction 6/97 relating to the approval of Go-betweens, Investment Advisory Companies and Salespersons.