Letters of Indemnity – Important Reminders

Please find below some key reminders regarding letters of indemnity (“LOIs”).

1. Complete all sections: Ensure all five sections of the LOI application form are filled out, even for non-financial corrections. Missing or incorrect information may cause delays or invalid corrections.
   
   
2. Provide clear instructions: include clear and concise instructions on the LOI application for the trade(s) to be corrected. 
   
   
3. Signatures required: The client’s signature, when applicable, along with the Representative’s, must be included on the LOI application. For client-name accounts without a valid Limited Authorization Form (“LAF”) on file, the client’s signature is required. For clients with a valid LAF on file and for nominee accounts, valid notes must be maintained and provided upon request.
   
   
4. Transmission of supporting documentation: Provide proof of intent/supporting documents with the LOI application to support the requested correction. Upon submission, mark the documentation “with LOI” to avoid trade duplication.
   
   
5. Asset transfers in kind: Assets can be transferred between plans/clients either “in cash” or “in kind”, however the goal is to place these as in kind. If the option is not correctly selected in Univeris, funds will be traded as redemptions instead of transfers in kind. 
   
   
    
6. Reversals of redemptions: If a redemption needs to be reversed (i.e., when withdrawals send the proceeds to the client’s bank account), the LOI team will require the proceeds (the money) to be sent back to Investia before proceeding with the correction. Options for sending back proceeds include:  
   •    The client can send the money via EFT/online deposit; or
   •    The Representative can program a one-time PAC to the cash account. If the client does not hold a nominee open account, one can be opened for cash account purposes to facilitate the one-time PAC to CCA, without the need for a KYC in this instance.
   
   
7. Cost of corrections: LOI corrections may incur a cost (dilution), which will be deducted from the Representative’s commission account. Head office will not estimate potential LOI dilutions. 
   
   
8. Error liability: Do not submit requests indicating head office is responsible for the error without confirmation from head office. If there are concerns or questions about error liability, please contact Client Services before submitting the LOI request. 
   
   
9. Processing time: All requests received by 2:00 p.m. EST will be processed on the same business day on a best-effort basis, provided the request is in good order.
   
   

Should you require additional information, please contact our Client Services Team, by email at investia@investia.ca , by phone at 1-888-684-5548 or via the chatbot feature on the Advisor Centre.