Audits the corporation's financial statements annually and prepares the tax filings that keep the MIC's flow-through treatment intact. The audited statements accompany the offering memorandum, and separate audited statements, an internal controls report and a trust account report are filed with FSRA for the administrator.
Drafts and maintains the offering memorandum and subscription documents, advises on which prospectus exemptions may be relied on, and files the reports of exempt distribution required after each closing. Also reviews investor-facing marketing — including this website — against securities-law limits on what may be said.
Acts on every mortgage advance: reviews title, confirms the priority of the charge, registers the security, handles payout statements and discharges, and conducts enforcement where a file goes wrong. This is the role that makes “secured by real property” mean something.
A firm registered under securities legislation to distribute securities sold under prospectus exemptions. The dealer assesses each security it offers, determines suitability for each client, and is responsible for know-your-client and know-your-product obligations. Lendmax Capital's investor intake is supported by Drake Financial.
The individual, registered and sponsored by the exempt market dealer, who actually speaks with you. They collect and keep current your know-your-client information, explain the product and its risks, and must determine that a subscription puts your interest first before an order is accepted — considering the effect on your portfolio's concentration and liquidity, and the costs involved. If a representative ever tells you a private investment is guaranteed, that is a reason to stop, not a reason to invest.
