Canadian Western Trust

Exempt Market Securities 

Frequently asked questions

Q: Why is CWT exiting the EMS business?

A: It is a strategic business decision made by CWB Financial Group to exit this business. We thank you for your business, we will do our best to ensure a smooth transition.

Q: Why/who is Computershare?

A: Computershare (ASX:CPU) is a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications. They also specialize in corporate trust, bankruptcy, class action and a range of other diversified financial and governance services.

Founded in 1978, Computershare is renowned for its expertise in high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement. Many of the world's leading organizations use Computershare to streamline and maximize the value of relationships with their investors, employees, creditors and customers.

Computershare is represented in all major financial markets and has over 16,000 employees worldwide.

For more information, visit www.computershare.com.

Q: What do I as a client/advisor need to do to facilitate the transfer to Computershare?

A:  No action is required by clients or their advisors. CWT and Computershare will take care of all the necessary arrangements to ensure your accounts are transitioned smoothly.

Q: What do I as a client/advisor need to do to facilitate a transfer to another trustee?

A: If clients do not wish to have their accounts transferred to Computershare, they will need to provide CWT with a fully completed transfer request form from their trustee of choice by September 1, 2017.  Clients should ensure that their new trustee is able to hold the exempt market securities held within their CWT plans and confirm any costs that will be charged by their new trustee or from the transfer agent of their securities for certificate re-registration. Standard CWT exit fees will apply for the transfer.

Q: Will I be charged any fees for this transfer to Computershare?  Will I be charged any fees to transfer my account to another trustee of my choosing?

A:  No fees will be charged to clients for accounts that are being transferred to Computershare. If a client wishes to transfer their account to another trustee other than Computershare, CWT’s standard fees will be charged. There may also be certificate re-registration costs charged by a securities transfer agent to move to a new trustee.

Q: Will the fee structure be different at Computershare?

A: Computershare fees are similar to CWT's. Please contact Computershare or refer to the Computershare website for details on fees.

Q: When will my fees be billed?

A: The fee due date for your account will remain the same even after the transfer to Computershare.

Q: I have completed the paperwork to purchase, contribute, or transfer in EMS shares in my CWT plan. Will the transaction be processed?

A: CWT will continue to process new purchases for existing accounts up until September 1, 2017 provided that there is sufficient cash balance to cover both the transaction and the purchase fee. If you are relying on a transfer of funds to complete the purchase, the transfer must be complete by September 1, 2017 to ensure a sufficient cash balance to proceed with the transaction. Contributions or transfers of EMS shares in-kind received as of September 1, 2017 will also be processed, provided there is sufficient cash within the plan to cover transaction fees.

Q: I have multiple accounts with CWT, however only one account holds EMS. What will happen to my other accounts?

A:  The account with exempt market securities will transition to Computershare, the other accounts are not affected and will remain at CWT.

Q: I am holding EMS and mutual funds within my CWT account. Will my account be transferred?

A: Accounts with mutual fund holdings will remain at CWT at this point; however, no new EMS transactions will be allowed.  We suggest you speak with your financial advisor regarding your options.

Q: I am holding EMS and investor mortgage investments within my CWT account. Will my account be transferred?

A: Accounts with EMS and investor mortgage investments will not be moving to Computershare at this time.

Q: Will I have access to CWeb for statements and tax slips?

A: Yes. CWeb access will continue to be available to allow transitioned clients access to statements, transaction history and tax receipts.

Q: Who do I contact for a copy of my 2017 tax slip (ie. contribution slip, T4, T4RIF, etc.)?

A: CWT will issue tax slips including contribution slips, T4, and T4RIF for activity in your account from January 1, 2017 to September 30, 2017. For assistance with account activity from October 1, 2017 to December 31, 2017, please contact Computershare.

Q: When can I expect a copy of my 2017 tax slips?

A: Tax slips issued by CWT will begin to be mailed out as per our normal schedule between January and March, 2018. Most tax slips will also be posted on CWeb between January and March, 2018. Please contact Computershare for information on their tax slip process.

Q: I am expecting a dividend or interest to be paid on my EMS. Will that be processed at CWT or Computershare?

A: CWT will continue to process EMS dividends and interest received up until the date of transfer to Computershare. After October 1, 2017, EMS dividends and interest received at CWT will be processed and forwarded to your Computershare account as a balance of account transfer on a regular basis until such time as your assets are fully re-registered to Computershare.

Q: My account is a RIF and I have provided payment instructions to CWT.  What happens to my schedule of payments once my account is transferred to Computershare?

A: Clients who have already set up RIF payments with CWT will see that activity continue at Computershare. CWT will forward payment instructions and details, including pay dates and banking information to Computershare for ongoing activity.

Q: I have a RIF payment scheduled for the transfer date on September 30, 2017. Will there be a delay in receiving that due to the transfer?

A: CWT will work to ensure that all September 30, 2017 RIF payments are made without delay. Please note, however, that clients are still responsible for ensuring that there is sufficient cash available for the payment in advance of the September 30, 2017 run date. As per our normal procedures, RIF payments will not be processed for accounts that do not have sufficient cash balance to cover the payment.

Q: Where should I direct new product requests to after September 1, 2017?

A:  New EMS issuer requests should be referred directly to Computershare.

Q: Who can I contact for a new funding after September 1, 2017?

A: Please contact Computershare directly for new funding requests.

Q:  What if my client’s transfer request arrives after September 1, 2017?

A: We will review requests received up until September 1, 2017 on a case-by-case basis. To guarantee that the transfer of your client's account can be completed to your preferred trustee, please ensure that your transfer request is provided to CWT in good order by September 1, 2017. After that date, transfer requests will be rejected and you will need to re-initiate at Computershare in October.

Q:  Will I have access to CWeb for statements and tax slips?

A:  Yes. Advisors who currently have access to CWeb will continue to have access even after the transfer date. Advisors can access client information in the closed accounts section of CWeb using the advanced search capabilities.