National Instrument 24-101 establishes a framework to ensure faster and more efficient processing and settlement of institutional operations for Delivery Against Payment (DAP) or Receipt Against Payment (RAP). To this end, it requires entities subject to the rule, such as institutional investors, advisors, dealers and custodians, to establish sufficient policies and procedures and ensure that prior to opening an account (or for accounts of existing clients) to execute a trade only if each trade matching party has entered into a trade matching agreement with or provided a trade matching statement to each other.
Industrial Alliance Insurance and Financial Services Inc. and each of its subsidiaries and affiliates covered by this standard have completed the matching declaration required by National Instrument 24-101.
The following statement confirms the implementation of these policies and procedures: