DOCSLIB.ORG

2021 Wealthsimple Socially Responsible Index

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2021 Wealthsimple Socially Responsible Index No securities regulatory authority has expressed an opinion about these securities, and it is an offence to claim otherwise. PROSPECTUS Continuous Distribution April 23, 2021 This prospectus qualifies the distribution of Canadian dollar-denominated units (the “Units”) of the following exchange-traded funds (each a “Wealthsimple ETF” and together the “Wealthsimple ETFs”): Wealthsimple North America Socially Responsible Index ETF (“WSRI”) Wealthsimple Developed Markets ex North America Socially Responsible Index ETF (“WSRD”) The Wealthsimple ETFs are exchange-traded mutual funds established as trusts under the laws of the Province of Ontario. Each Wealthsimple ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of a specified market index (the “Index”). See “Investment Objectives”. Mackenzie Financial Corporation (the “Manager”), a registered portfolio manager and investment fund manager, is the trustee, manager, and portfolio manager of the Wealthsimple ETFs and is responsible for the administration of the Wealthsimple ETFs. Each of the Manager and Wealthsimple (defined below) are the promoters of the Wealthsimple ETFs. See “Organization and Management Details of the Wealthsimple ETFs”. Listing of Units Each Wealthsimple ETF issues Units on a continuous basis and there is no maximum number of Units that may be issued. The Units of the Wealthsimple ETFs are listed on the TSX, and a Unitholder (defined below) may buy or sell Units of the Wealthsimple ETFs on the TSX or another exchange or marketplace through registered brokers and dealers in the province or territory where the Unitholder resides. Unitholders may incur customary brokerage commissions in buying or selling Units. No fees are paid by a Unitholder to the Manager or the Wealthsimple ETFs in connection with the buying or selling of Units on the TSX or another exchange or marketplace. Unitholders may redeem Units in any number for cash for a redemption price per Unit of 95% of the closing price for the Units on the TSX on the effective day of the redemption, subject to a maximum redemption price of the applicable NAV per Unit (defined below), or may exchange a minimum of a Prescribed Number of Units (defined below) (and any additional multiple thereof) for, in the discretion of the Manager, securities and cash or only cash. Unitholders are advised to consult their brokers or investment advisers, and their tax advisers, before redeeming Units for cash. See “Redemption of Units”. The Wealthsimple ETFs will issue Units directly to Designated Brokers and Dealers (each defined below). Additional Consideration No Designated Broker or Dealer has been involved in the preparation of this prospectus or has performed any review of the contents of this prospectus and, as such, the Designated Brokers and Dealers do not perform many of the usual underwriting activities in connection with the distribution by the Wealthsimple ETFs of their Units under this prospectus. For a discussion of the risks associated with an investment in Units of the Wealthsimple ETFs, see “Risk Factors”. Registration of interests in, and transfer of, the Units will be made only through CDS Clearing and Depository Services Inc. Beneficial owners will not have the right to receive physical certificates evidencing their ownership. Each Wealthsimple ETF is a mutual fund under the securities legislation of certain provinces and territories of Canada. In the opinion of the Manager, Units of the Wealthsimple ETFs are index participation units within the meaning of National Instrument 81-102 - Investment Funds (“NI 81-102”). A mutual fund wishing to invest in Units of a Wealthsimple ETF should make its own assessment of its ability to do so after careful consideration of the relevant provisions of NI 81-102. The Units are not and will not be registered under the U.S. Securities Act of 1933, as amended. Subject to certain exceptions, the Units may not be offered or sold in the U.S. or offered or sold to U.S. persons. The Wealthsimple ETFs are not and will not be registered under, and the Manager is not registered under, the U.S. Investment Company Act of 1940, as amended. Documents Incorporated by Reference Additional information about each Wealthsimple ETF is available in the most recently filed ETF Facts, in the most recently filed annual financial statements, if any, any interim financial statements filed after those annual financial statements, the most recently filed annual management report of fund performance (“MRFP”), if any, and any interim MRFP filed after that annual MRFP. These documents are incorporated by reference into, and legally form an integral part of, this prospectus. These documents are publicly available on the Manager’s website at www.mackenzieinvestments.com and may be obtained upon request, at no cost, by calling 1.800.387.0614 or by contacting a registered dealer. These documents and other information about the Wealthsimple ETFs are also publicly available at www.sedar.com. See “Documents Incorporated by Reference” for further details. - ii - TABLE OF CONTENTS IMPORTANT TERMS .................................................................................................................................................... 1 PROSPECTUS SUMMARY ........................................................................................................................................... 5 SUMMARY OF FEES AND EXPENSES .................................................................................................................... 11 OVERVIEW OF THE LEGAL STRUCTURE OF THE WEALTHSIMPLE ETFS ..................................................... 13 INVESTMENT OBJECTIVES ..................................................................................................................................... 13 THE INDICES ............................................................................................................................................................... 13 INVESTMENT STRATEGIES ..................................................................................................................................... 15 OVERVIEW OF THE SECTORS IN WHICH THE WEALTHSIMPLE ETFS INVEST ............................................ 17 INVESTMENT RESTRICTIONS ................................................................................................................................. 17 FEES AND EXPENSES ................................................................................................................................................ 18 RISK FACTORS ........................................................................................................................................................... 20 DISTRIBUTION POLICY ............................................................................................................................................ 28 PURCHASES OF UNITS ............................................................................................................................................. 30 REDEMPTION OF UNITS ........................................................................................................................................... 33 INCOME TAX CONSIDERATIONS ........................................................................................................................... 35 ELIGIBILITY FOR INVESTMENT ............................................................................................................................. 39 ORGANIZATION AND MANAGEMENT DETAILS OF THE WEALTHSIMPLE ETFS ........................................ 40 CALCULATION OF NET ASSET VALUE ................................................................................................................. 47 ATTRIBUTES OF THE UNITS.................................................................................................................................... 50 UNITHOLDER MATTERS .......................................................................................................................................... 51 TERMINATION OF THE WEALTHSIMPLE ETFS ................................................................................................... 53 RELATIONSHIP BETWEEN THE WEALTHSIMPLE ETFS AND DEALERS ........................................................ 53 PROXY VOTING DISCLOSURE FOR PORTFOLIO SECURITIES HELD .............................................................. 53 MATERIAL CONTRACTS .......................................................................................................................................... 55 LEGAL AND ADMINISTRATIVE PROCEEDINGS.................................................................................................. 55 EXPERTS ...................................................................................................................................................................... 56 EXEMPTIONS AND APPROVALS ............................................................................................................................ 56 OTHER MATERIAL FACTS ....................................................................................................................................... 56 PURCHASERS’ STATUTORY RIGHTS OF WITHDRAWAL AND RESCISSION ................................................. 57 DOCUMENTS INCORPORATED BY REFERENCE ................................................................................................
Load more

Recommended publications
  • 2019 DELEGATE LIST First Name Last Name Organization Niramay
    2019 DELEGATE LIST First Name Last Name Organization Niramay . 1985 Chuck Lee AIMCO Stephan Dumais Air Canada Pension Investments Sean McCready Anson Advisors Inc. Hector Fernandez Crespo Banco Santander Enrique Verdu Aguilar Banco Santander, S.A Daryl Blattberg Bank of America Isabel Docal Bank of America Jerry Hubert Bank of America Merrill Lynch Zahir Antia Bank of Canada Harri Vikstedt Bank of Canada Spencer Bailey Bank of Montreal Stéphanie Jules Bank of Montreal Deborah Wise Bank of Montreal Abhinav Chandra Barclays Heather Gidaly Barclays Charles Tacopino Barclays David Jeffrey BBS SECURITIES INC. Nick Hay BlackRock Marc Kitay BMO John Mitrano BMO JINSONG WANG BMO Daniel Antchipalovski BMO Capital Markets Nick Chan BMO Capital Markets Tamy Chen BMO Capital Markets Annaleigh Greene BMO Capital Markets Kimberley Jansen BMO Capital Markets john Loynd BMO Capital Markets Jordan Lupu BMO Capital Markets Pamela Murphy BMO Capital Markets Alina Popa BMO Capital Markets MJ Schuessler BMO Capital Markets Stephanie Stoyan BMO Capital Markets Anthony Venditti BMO Capital Markets 1 of 7 5/22/2019 Melissa Kelman BMO Financial Group Chris Beswick BMO Private Investment Counsel Inc. Kathleen Cooney BNP Paribas Don De Vito BNP Paribas Robert Lakeman BNP Paribas MIKE SAUNDERS BNP PARIBAS Vincent Tieu BNP Paribas Ilkhom Babajanov BNY Mellon Eric Badger BNY Mellon Wesley Cook BNY Mellon Keith Donohue BNY Mellon Cezan Duong BNY Mellon William Kelly BNY Mellon Richard Marquis BNY Mellon Patric Ochoa BNY Mellon Taras Sidorenko BNY Mellon John Templeton BNY Mellon Ted Thresher BNY Mellon Simon Tomlinson BNY Mellon Daniel Yardin BNY Mellon Phil Zywot BNY Mellon Michael Madaio BNY Mellon | Pershing Michael Silecchia BNY Mellon | Pershing Carol Penhale Broadridge Financial Solutions Valarie Thorgerson Broadridge Financial Solutions Inc Mike Airey Broadridge Financial Solutions Inc.
    [Show full text]
  • Wealth Management in a Mobile-First Era
    Wealth Management In A Mobile-First Era How To Turn Robo Savers Into Robo Investors 14 December 2016 By: Mark Schwanhausser A growing number of so-called robo investment firms, fintech innovators, and bank partnerships is rushing to refine a cost-effective business model for investment services in a digital-first era. The challenges are numerous, starting with how to tempt today’s affluent Gen X, Baby Boomer, and female investors to try untested upstarts while also grooming tomorrow’s Gen Y banking customers who aren’t yet rich. The outcome will be shaped by how well financial institutions incorporate robo capabilities in three categories: digital banking insights, robo advising and investing, and personalized “robo writing.” Together, these services and players can build on Javelin’s Financial Journey Model, usher in new ways to coach customers, simplify investment decisions, counter anxiety in volatile times — and put banks and credit unions in a strong position when customers are ready to invest. Key questions discussed in this report: How can financial institutions use robo services to provide cost-effective investment services and groom customers to become eventual wealth management clients? What is the forecast for the potential market for Gen Y, Gen X, and Baby Boomer investors? Can banks and credit unions compete to provide robo services profitably? How should an FI prioritize investments to deliver insights in digital banking, robo advising and investing, and personalized information? Companies Mentioned: Acorns, Amazon (Echo), AssetBuilder,
    [Show full text]
  • Province of Newfoundland and Labrador Approved Locked-In Retirement Income Fund Arrangements Under the Pension Benefits Act, 1997
    Province of Newfoundland and Labrador Approved Locked-in Retirement Income Fund Arrangements Under The Pension Benefits Act, 1997 Trustee: Allianz Life Insurance Company of North America PRODUCTS Allianz Life Insurance Company of North America RIF 1131 Trustee: B2B Trustco PRODUCTS AGF Multifund RIF 1595 B2B Bank Financial Services Inc. RIF 594 B2B Bank Intermediary Services Inc. RIF 1584 B2B Bank RIF 1577 B2B Bank Securities Services Inc. RIF 1003 Counsel Portfolio Services Inc. RIF 1186 Harmony RIF 1597 Investors Group Financial Services Inc. (Nominee) RIF 1669 Investors Group Securities Inc. RIF 1668 Mackenzie RIF 219 Primerica Concert RIF 1596 Quadrus RIF 305 Trustee: BMO Life Assurance Company PRODUCTS BMO Guaranteed Investment Funds RIF 1606 Trustee: BMO Trust Company PRODUCTS BMO InvestorLine RIF 432 BMO Nesbitt Burns Inc. RIF 089 BMO RIF 076 Guardian Group of Funds Ltd. Self-Directed RIF 062 The Trust Company of Bank of Montreal RIF 1028 Trustee: Canadian Western Trust PRODUCTS ATB Securities Inc. Self-Directed RIF 1322 Canadian Western Trust Company (M) RIF 1643 Canadian Western Trust Guaranteed RIF 215 Canadian Western Trust Self-Directed RIF 214 Canoe Financial General RIF 1665 LRIF LIST Tuesday, November 19, 2019 Page 1 of 9 Trustee: Canadian Western Trust PRODUCTS Hayward Securities Inc. Self-Directed RIF 1212 Leede Jones Gable Inc. Self-Directed RIF 1247 OceanRock Investments Inc. RIF 1378 Odlum Brown Limited Self-Directed RIF 201 Open Access Limited RIF 1542 Qtrade Asset Management Inc. Self-Directed RIF 1353 Qtrade Securities Inc. Self-Directed RIF 1253 Raymond James Ltd. Self-Directed RIF 1516 Worldsource Financial Management Inc.
    [Show full text]
  • 2021 Calendar
    2021 CALENDAR 2021 HOLIDAYS IN CANADA CIBC MELLON’S CLIENT SERVICE TEAMS JANUARY FEBRUARY ACROSS CANADA WILL NOT BE AVAILABLE S M T W T F S S M T W T F S ON EACH OF THE FOLLOWING DATES, 1 2 1 2 3 4 5 6 UNLESS OTHERWISE NOTED. 3 4 5 6 7 8 9 7 8 9 10 11 12 13 January 1 New Year’s Day 10 11 12 13 14 15 16 14 15 16 17 18 19 20 (National Holiday) 17 18 19 20 21 22 23 21 22 23 24 25 26 27 CANADIAN EXCHANGES WILL BE CLOSED 24 25 26 27 28 29 30 28 January 4 In Lieu of 31 Traditional Holiday MARCH APRIL CIBC MELLON’S MONTREAL-BASED CLIENT S M T W T F S S M T W T F S SERVICE TEAMS WILL NOT BE AVAILABLE; 1 2 3 4 5 6 1 2 3 CANADIAN EXCHANGES ARE OPEN 7 8 9 10 11 12 13 4 5 6 7 8 9 10 February 15 Family Day (ON/AB/BC/SK only) 14 15 16 17 18 19 20 11 12 13 14 15 16 17 February 15 Heritage Day (Nova Scotia) 21 22 23 24 25 26 27 18 19 20 21 22 23 24 CIBC MELLON’S CLIENT SERVICE TEAMS IN 28 29 30 31 25 26 27 28 29 30 PROVINCES NOTED ABOVE WILL NOT BE AVAILABLE; CANADIAN EXCHANGES WILL BE CLOSED ON FEBRUARY 15 MAY JUNE S M T W T F S S M T W T F S April 2 Good Friday 1 1 2 3 4 5 CANADIAN EXCHANGES WILL BE CLOSED 2 3 4 5 6 7 8 6 7 8 9 10 11 12 May 24 Victoria Day 9 10 11 12 13 14 15 13 14 15 16 17 18 19 16 17 18 19 20 21 22 20 21 22 23 24 25 26 CANADIAN EXCHANGES WILL BE CLOSED 23 24 25 26 27 28 29 27 28 29 30 June 24 St.
    [Show full text]
  • Deposit Account Services of CIBC Mellon Trust Company
    APRIL 2021 Deposit Account Services of CIBC Mellon Trust Company Terms and conditions disclosure Customers who have entered into a custody or trust agreement (the “Client Agreement”) with CIBC Mellon Trust Company (“CMT”) and which use the deposit account services of CMT and CIBC Mellon Global Securities Services Company (“CIBC Mellon GSS”) in its capacity as agent of the custodian (and together with CMT, “CIBC Mellon”) are subject to the terms and conditions herein. PARTICIPATING FINANCIAL INSTITUTIONS 1. Monies administered by CIBC Mellon GSS in a custody account pursuant to a Client Agreement are referred to the deposit account of CMT, Canadian Imperial Bank of Commerce (“CIBC”), The Bank of New York Mellon (“BNY Mellon”), or any of their affiliates or related parties (collectively the “Participating Financial Institutions”). 2. Funds transferred to a Participating Financial Institution are governed by separate deposit terms, conditions and/or agreements as may be issued by such Participating Financial Institution from time to time. 3. Any deposits transferred to Participating Financial Institutions other than CMT are obligations of those Participating Financial Institutions and are not obligations of, nor guaranteed by, CIBC Mellon. 4. CIBC Mellon, in the normal course of business, may receive revenue generated in connection with deposits held by Participating Financial Institutions. CMT DEPOSIT TERMS AND CONDITIONS 5. Monies on deposit with CMT are held on behalf of the customer and the customer shall be entitled to any amount on demand. 6. The amounts maintained in a deposit account by CMT may bear interest at the rate, if any, agreed to by CIBC Mellon and the customer, from time to time.
    [Show full text]
  • The Bank of New York Mellon Annual Report 2019
    For more than 235 years, BNY Mellon has been a trusted steward of our clients’ business and a respected corporate citizen. With each decade comes a new era of change and, as we enter 2020, I am excited for what the future holds for our organization. In my 30-plus years with the company, we have undergone an incredible transformation. Not long ago, we were the largest retail bank in the greater New York suburban area, a large credit card player and an active participant in capital markets, leveraged loans and emerging markets. Today, we are a globally significant, broad-based services company with a low-risk balance sheet – a considerable evolution from the traditional commercial bank we once were. This spirit of transformation and innovation has been part of our DNA for more than two centuries and, now more than ever, we must continue to drive an aggressive agenda. While our growth as an organization has been noteworthy, we know there is more we need to do to continuously deliver on our promise to our shareholders. Annual Report 2019 I We feel good about our business model and portfolio of client services, and are confident in our ability to provide consistent returns to our shareholders. We take pride in our strong risk management culture, and in our digital- and technology-enabled capabilities – all of which have us well situated to provide scalable and efficient solutions to investors worldwide. As we move forward, we want to accelerate our evolution and innovation as this will ensure we are well positioned for the future and able to meet the ever-changing needs of our clients.
    [Show full text]
  • Ten Markets, Ten Cultures, One Bank
    ISSUE022 ASSETSERVICINGTIMES 14.09.2011 WEDNESDAY AST www.assetservicingtimes.com CONTENTS HSBC launches escrow services in Vietnam HSBC Securities Services (HSS) has launched escrow services in Vietnam. page2 Wells Fargo acquire LaCrosse Wells Fargo & Company has announced an agreement to acquire LaCrosse Glo- bal Fund Services. Post trade model battle heats up page3 EUROPE 12.09.2011 Country focus As the competition for market share among European we very strongly believe in and where the big domi- Canada has managed to weather finan- exchanges continues to heat up, two competing mod- nance struggle over clearing and settling trades is go- cial storms coming from the south and els are emerging in the provision of post-trade services ing to be in the next few years,” said Belinda Keheyan, across the Atlantic. to trading partners. Interoperability – the practice of director of marketing for Chi-X Europe. page5 diverse and disparate organisations working together – and the vertical silo model, when the exchange owns The London Stock Exchange (LSE) and Deutsche Bo- Industry training and, arguably, controls clearing houses. erse are moving towards the vertical silo model as the All the leading industry courses over the two exchanges lose market share to alternative trad- coming months. Chi-X Europe, a major European exchange with some ing platforms like Chi-X Europe. The London Stock page8 20 per cent market share for total turnover, will be the Exchange recently announced a majority bid for LCH. first to offer four-way clearing interoperability to all its Clearnet while Deutsche Borse and NYSE Euronext Industry events trading partners.
    [Show full text]
  • AIMA Canada Handbook 2019: a Report on the Canadian Alternative Investment Landscape
    AIMA_CottonBag.indd 1 01/03/2017 17:01 AIMA Canada Handbook 2019: A Report on the Canadian Alternative Investment Landscape Presented with: AIMA Canada Handbook 2019: Report on the Canadian Alternative Investment Landscape AIMA Canada is a subsidiary of the Alternative Investment Management Association Over 40 events annually in Canada, including the AIMA AIMA’s quarterly AIMA was Educational resources include: Canada Investor Journal shares originally founded Forum (ACIF) thought leadership Canada Handbook 2019 in 1990 published by Launching Alternative Mutual Funds members Handbook Access to over 25 Globally, AIMA has industry guides, AIMA/CAIA Risk Rating Guidelines AIMA Canada was offices in New York, modular DDQ for established in 2003 to Washington DC, Advisor DDQ one-pager investment managers align and contribute London, Brussels, and 8 other DDQs CE Credit Presentations to global sound Singapore, Hong Kong, practices Shanghai, Sydney and Tokyo Local committees include: AIMA has over 900 Legal, Finance & Compliance Committee Global Groups include: regulatory and policy contacts Investor Engagement Investor Steering Committee Quebec Regional AIMA Canada Investor focus Investor Relations & Business Development shares guidance includes institutional, Education & Research with CSA regulators, family offices and Sounds Practices Programming & Events including OSC & retail investors AMF Next Generation Manager Western Regional Digital Assets & Blockchain Operational Due Diligence Over 140 corporate members in Canada, including institutional
    [Show full text]
  • Bank Primer - 2018
    I NSTITUTIONAL E Q U I T Y R ESEARCH Robert Sedran, CFA Marco Giurleo, CFA Christopher Bailey Financials I N D U S T R Y P RIMER February 20, 2018 Bank Primer - 2018 Canadian Banking 101 All figures in Canadian dollars, unless otherwise stated. 18-152284 © 2018 CIBC World Markets Corp., the U.S. broker-dealer, and CIBC World Markets Inc., the Canadian broker-dealer (collectively, CIBC World Markets Corp./Inc.) do and seek to do business with companies covered in its research reports. As a result, investors should be aware that CIBC World Markets Corp./Inc. may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. For required regulatory disclosures please refer to "Important Disclosures" beginning on page 144. Find CIBC research on Bloomberg, Thomson Reuters, CIBC World Markets Inc., P.O. Box 500, 161 Bay Street, Brookfield Place, Toronto, Canada M5J 2S8 (416) 594-7000 FactSet, Capital IQ and ResearchCentral.cibcwm.com CIBC World Markets Corp., 425 Lexington Avenue, New York, NY 10017 (212)-856-4000 Bank Primer - 2018 - February 20, 2018 Table of Contents Canadian Banks Snapshot .................................................................... 4 Summary Income Statements ............................................................... 5 Common-Sized Income Statements ........................................................ 6 Summary Balance Sheets ....................................................................
    [Show full text]
  • Trade Talk / November 2016 Edition 1 by Catalin Codita Product Manager, Capital Markets
    TitleTrade Akkurat Talk Light Pro 30/34 (30) Reporting on CIBC Mellon initiatives and developments within the securities industry. NOVEMBER 2016 EDITION Innovation Driving CIBC Mellon and Advancing the Client Experience The financial services sector in Canada is abuzz with activity in the fintech arena, with a flurry of bank-fintech partnerships and blockchain technology that is showing no signs of slowing. CIBC Mellon is relied upon for custody, safekeeping, and asset servicing, and as such, trust and confidence are paramount to our client experience. Nonetheless, we are discovering ways to innovate our client experience in a controlled manner as we seek as always to further enhance accuracy, operational efficiency and consistency. Standing still is not an option during this time of innovation and technological change. We are experimenting in a controlled way and discussing how best to develop and RICHARD ANTON IS SENIOR VICE deploy technology to our clients. For example, we are in the development stages of a PRESIDENT, CHIEF OPERATIONS robotics pilot program, designed to help enhance efficiency and accuracy in repetitive OFFICER AT CIBC MELLON. HE HAS tasks across multiple systems. We are also exploring emerging technology such as OVERALL RESPONSIBILITY FOR THE blockchain - a distributed ledger technology - with the aim of leveraging blockchain’s DIRECTION OF THE OPERATIONS AREA properties and exploring its capabilities for conducting transactions. In collaboration OF THE COMPANY. RICHARD HAS with our parent company, BNY Mellon, CIBC Mellon has created a proof-of-concept MORE THAN 17 YEARS OF FINANCIAL prototype to test the potential benefits of this technology. We continue to build upon our SERVICES INDUSTRY EXPERIENCE, expertise and relationships with third-party providers in order to be better positioned to FOCUSED PRIMARILY ON OPERATIONS adopt cutting-edge technological solutions.
    [Show full text]
  • OSC Bulletin
    The Ontario Securities Commission OSC Bulletin February 20, 2020 Volume 43, Issue 8 (2020), 43 OSCB The Ontario Securities Commission administers the Securities Act of Ontario (R.S.O. 1990, c. S.5) and the Commodity Futures Act of Ontario (R.S.O. 1990, c. C.20) The Ontario Securities Commission Published under the authority of the Commission by: Cadillac Fairview Tower Thomson Reuters 22nd Floor, Box 55 One Corporate Plaza 20 Queen Street West 2075 Kennedy Road Toronto, Ontario Toronto, Ontario M5H 3S8 M1T 3V4 416-593-8314 or Toll Free 1-877-785-1555 416-609-3800 or 1-800-387-5164 Contact Centre – Inquiries, Complaints: Fax: 416-593-8122 TTY: 1-866-827-1295 Office of the Secretary: Fax: 416-593-2318 42711424 The OSC Bulletin is published weekly by Thomson Reuters Canada, under the authority of the Ontario Securities Commission. Thomson Reuters Canada offers every issue of the Bulletin, from 1994 onwards, fully searchable on SecuritiesSource™, Canada’s pre-eminent web-based securities resource. SecuritiesSource™ also features comprehensive securities legislation, expert analysis, precedents and a weekly Newsletter. For more information on SecuritiesSource™, as well as ordering information, please go to: http://www.westlawecarswell.com/SecuritiesSource/News/default.htm or call Thomson Reuters Canada Customer Support at 1-416-609-3800 (Toronto & International) or 1-800-387-5164 (Toll Free Canada & U.S.). Claims from bona fide subscribers for missing issues will be honoured by Thomson Reuters Canada up to one month from publication date. Space is available in the Ontario Securities Commission Bulletin for advertisements. The publisher will accept advertising aimed at the securities industry or financial community in Canada.
    [Show full text]
  • MIT 15.S08 S20 Class 9: Trading & Capital Markets
    FinTech: Shaping the Financial World April 29, 2020 1 Class 9: Overview • Online Brokerage • Robinhood & Zero Commission Trading • Robo Advisors • Capital Markets FinTech Startups • Crypto Exchanges, Lending & Decentralized Finance 2 Class 9: Readings • 'How Robinhood Changed an Industry' John Divine, US News • 'Charles Schwab and the New Broker Wars' Daren Fonda, Bloomberg • 'Robo-Advisors: Product vs. Platform' Henry O’Brien, The Startup 3 Class 9: Study Questions • How did online brokers emerge during an earlier stage of FinTech development? How were Robinhood and this era’s FinTech startups able to further disrupt the brokerage world? • How are Robo Advisors transforming the provision of retail asset management services? How has Big Finance - incumbent asset managers and banks - reacted? • What are FinTech trends and applications affecting trading, asset management & capital market infrastructure? 4 Online Brokerage Company Landscape • Retail Brokers: Charles Schwab / TD Ameritrade (1971) – 12M each, E*TRADE (1982) – 5.2M, Firstrade (1985), Interactive Brokers (1978) – 0.8M, LBMZ Zacks Trade (1978), Monex TradeStation (1999 / 1982) • Asset Managers: Fidelity (1946), Vanguard (1975) • Banks: JP Morgan You Invest (1871 / 2018), Merrill Edge (1914 / 2010), Ally Invest (1919 / 2016) 4M • FinTech Startups: Freetrade (2016), Public (2017), Robinhood (2013) - 10M, Stash (2015) – 3.5M, Tastyworks (2017), Upstox (2012), Webull (2017) 5 Mobile Trading – App Comparison © Reink Media Group LLC. All rights reserved. This content is excluded from
    [Show full text]