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  • Periodic Statements

    • BC-8.10.5

      Conventional bank licensees must promptly and at suitable intervals provide their customers with a written statement when they:

      (a) Undertake the activity of managing financial instruments; or
      (b) Operate a customer's account containing financial instruments.
      Added: April 2008

    • BC-8.10.6

      Conventional bank licensees must provide a periodic statement:

      (a) Monthly, if the customer is a retail customer and the retail customer's portfolio includes derivative transactions in highly volatile classes of financial instruments or leveraged transactions; or
      (b) At least every six months in other cases.
      Amended: July 2012
      Added: April 2008

    • BC-8.10.7

      Periodic statements, issued in accordance with Rule BC-8.10.6, must contain, at the very least, the information contained in Paragraph BC-8.13.8, as at the end of the period covered.

      Amended: January 2011
      Added: April 2008

    • BC-8.10.8

      Where a conventional bank licensee undertakes the activity of managing financial instruments on a discretionary basis, the periodic statements, issued in accordance with Rule BC-8.10.6, must also include at the very least the information included in Paragraph BC-8.13.9.

      Amended: January 2011
      Added: April 2008

    • BC-8.10.9

      In addition to Rules BC-8.10.7 and BC-8.10.8, where the retail customer may not only lose his entire investment but may also be required to pay more later, conventional bank licensees must also include the additional information included in Paragraph BC-8.13.10.

      Added: April 2008