Estate FAQs

An Executor or Administrator of an estate must fill out the form below to re-register securities in the name of the deceased to either the Estate of the Deceased or a Beneficiary of an Estate. The Declaration of Transmission must be sworn before a Justice of the Peace, Judge, Notary or individual permitted to take affidavits to be used in Provincial or Federal courts.

  • Provide the original certificate with the completed Declaration of Transmission form. The executor must endorse the original certificate. It then must be guaranteed by a financial institution that is a recognized member of the Medallion Signature Guarantee Program or by a Schedule 1 Canadian Bank.
  • Ensure the original or notarized copy of the Letters Probate or a Probate Bond of Indemnity accompanies the paperwork.
  • The registration panel must be completed by the executor, indicating that the securities are to be transferred directly to the beneficiary.

 

  • Declaration of Transmission
Category: Estate FAQs

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Issuer FAQs

Broadridge Financial Solutions, Inc. provides investor communications and technology solutions to banks, brokers, financial institutions, mutual funds, and corporate issuers. Brokers are required to pass annual materials, including proxies, to all of their clients holding stock with a reporting issuer. Broadridge’s job s to obtain the appropriate number of sets of materials and distribute them to the holders in street name. The proxies are voted and sent to Broadridge who tabulates the votes. Broadridge then sends this information to Marrelli Trust Company Limited to be included with the votes gathered for the Meeting.

Category: Issuer FAQs

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The following materials must be provided to shareholders:
Annual Meetings:

  • Notice of record and meeting date, a form of proxy, information circular (including year-end financial statements, etc.
  • Financial Statements if not already provided and if the shareholder has not opted out of receiving financial statements.
  • Quarterly financial statements are required unless a supplemental mailing list request form has been supplied to all shareholders. If that happens, only shareholders who replied will receive the statements.
  • Depending on the jurisdictions of the reporting issuer, other documents may be required.
  • Category: Issuer FAQs

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    The shareholder must Complete the Notice of Lost Certificate Form (link to form) and send it to MTCL by email or mail. The form requires you to provide details of the loss; including the circumstances surrounding the loss, details of the certificate(s) lost, and the registration that appeared on the certificate(s).
    The individual claiming the loss must complete an Affidavit of Loss: (link to form) When certificates are returned through the postal system as undeliverable, it is called a mail loss, and the claimant is required to complete an Affidavit of Non-Receipt (link to form). The affidavit serves as legal testimony as to the circumstances of the loss and includes information on the certificates and how they were lost. The Affidavit of Loss (or if applicable Non-Receipt) must be sworn before a Notary Public or a Commissioner for Taking Affidavits.
    Provide us with an Open Penalty Bond of Indemnity, issued by an insurance company authorized to transact business in Canada or the United States. The bond ensures that MTCL and the issuing company is not held liable if the lost certificates are ever traded or canceled. The bond provides the owner of the certificates with insurance coverage for the value of the security. The cost associated with securing an Open Penalty Bond is based on a percentage of the current market value of the lost certificate(s).
    See the Lost or Destroyed Certificate FAQs for more information. (link to that section)

    • Notice of Lost Certificate
    • Application for Lost Instrument Bond
    Category: Issuer FAQs

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    CDS is Canada’s national securities depository, clearing, and settlement house supporting Canada’s equity, fixed income, and money markets. It handles over 50 million securities trades annually. CDS settles millions of cross-border transactions with the U.S. annually and has custodial relationships with the Depository Trust Company, for example.

    Category: Issuer FAQs

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    DTC is a clearinghouse for securities that are held in street name, in electronic form, registered under the nominee name of CEDE & Co. DTC provides banks, brokerage firms, and other financial institutions with the ability to move securities and settle trades electronically.

    Category: Issuer FAQs

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    MTCL requires the following:

    • Issuer Name, CUSIP and ISIN, exchange listing, symbol and detailed information about the offering which includes the effective date, price range, and price location.
    • Complete corporate contact information
    • The underwriter(s) and/or corporate counsel’s names and contact information
    Category: Issuer FAQs

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    A CUSIP number is a unique identification number assigned to all stocks and registered bonds in Canada and the United States. A CUSIP number creates a clear distinction between securities traded on public markets.

    Category: Issuer FAQs

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    “Street Name” means that Securities are held in a broker account and registered in the name of the broker or other financial institution. For example, the brokerage firm’s name may be seen as the registered shareholder of your stock. A broker position might represent any number of beneficial owners.

    Category: Issuer FAQs

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    The registered owner is a shareholder of record on the books of the corporation. The registered owner may be a broker, an individual, a trust, estate, etc.

    Category: Issuer FAQs

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    We a detailed direction by the Issuer informing us who is allowed to act on behalf of the company. The issuer must execute and send an updated Certificate of Incumbency to MTCL as soon as the change occurs. (link to Certificate of Incumbency Form)

  • Certificate of Incumbency
  • Category: Issuer FAQs

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    In a word, complete. Before the meeting, we will contact you and provide you with all the requirements for the meeting, and with the use of our online calculator, you will be able to set up a timetable of events.
    Marrelli Trust Company Limited offers the following Annual Meeting Services:

    • Preparation of the Notice of Meeting and record dates and distribution to the appropriate authorities.
    • Preparation of search cards to determine the quantity required for the meeting.
    • Arranging the publication of the Meeting Date notice in the Globe and Mail and La Presse (when applicable) via the Canadian Depositary for Securities (CDS) on your behalf as required by regulations.
    • Requests NOBO securityholder information on your behalf and manages the tabulation of any votes received.
    • Tabulation services and Scrutineering Services to ensure that your meeting runs smoothly and that voting integrity is maintained.

     

    Category: Issuer FAQs

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    Marrelli Trust Company Limited keeps a current listing of registered shareholders and their ownership positions. The shareholder’s list is updated when treasury requests and transfer requests are processed. The files are maintained and updated with address changes when requested.

    Category: Issuer FAQs

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    DTC’s eligibility requirements are similar to CDS.

    Category: Issuer FAQs

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    The book based system means shares are traded between brokers and other financial institutions and cleared through The Canadian Depository for Securities (“CDS”). The security must have an International Securities Identification Number (ISIN). The security must be transferable, in physical form, by a CDS eligible transfer agent.

    Category: Issuer FAQs

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    Lost or Destroyed Certificates FAQs

    Complete the Notice of Lost Certificate Form (link to form) and send it to MTCL by email or mail. The form requires you to provide details of the loss, including the circumstances surrounding the loss, details of the certificate(s) lost, and the registration that appeared on the certificate(s).

    The individual claiming the loss must complete an Affidavit of Loss: (link to form) When certificates are returned through the postal system as undeliverable, it is called a mail loss, and the claimant is required to complete an Affidavit of Non-Receipt (link to form). The affidavit serves as legal testimony as to the circumstances of the loss and includes information on the certificates and how they were lost. The Affidavit of Loss (or if applicable Non-Receipt) must be sworn before a Notary Public or a Commissioner for Taking Affidavits.

    Provide to MTCL an Open Penalty Bond of Indemnity, issued by an insurance company authorized to transact business in Canada or the United States. The bond ensures that MTCL and the issuing company is not held liable if the lost certificates are ever traded or canceled. The bond provides the owner of the certificates with insurance coverage for the value of the security. The cost associated with securing an Open Penalty Bond is based on the current market value of the lost certificate(s).

    Tips for Locating Your Lost Certificate

    • Check your safety deposit box.
    • Contact your broker and issuer and ask if they have it in safe keeping.
    • Double-check your files at home and work.
    • Contact our office to see if your certificate has been transferred, or if it is being held in DRS form.
    • Check your cottage or vacation home, and your P.O. Box.
    • If an attorney, consultant, or third party assists you with your investment affairs, ask if they know where the certificate is.

     

    Found Certificates

    If the stock certificate is found, please inform us, immediately, to lift the stop-transfer from the stock.

    IMPORTANT: If the certificate has been replaced, please return the old (found) certificate to Marrelli Trust Company Limited immediately for cancellation.

    • Notice of Lost Certificate
    • Affidavit of Loss
    • Affidavit of Non-Receipt
    • Application for a Lost Security Bond

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    Shareholder FAQs

    A signature guarantee provides the transfer agent and issuer with proof that the registered owner of the security wants to transfer the security.
    There are two ways to guarantee a security in Canada:

    • A Schedule I Canadian Chartered Bank can guarantee signatures and is represented by a stamp from the financial institution. The guarantee is signed by an officer providing proof that the signature is genuine. The officer will also present their bank ID number.
    • A financial institution (broker, dealer, etc.) may provide a Medallion Signature Guarantee supported by a recognized Security Transfer Association Medallion Program. This guarantee offers proof that the signature is real.

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    Marrelli Trust Company Limited acts as a trust company offering transfer agent services for the company in which you own shares. We process the transfer of ownership of securities and maintain the shareholder register. We distribute materials on behalf of the company to its shareholders.

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    • Safety Deposit Box
    • Home Fireproof Safe
    • With a broker for safekeeping
    • Book-Entry Form (DRS)

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    A Certified Corporate Resolution is required to transfer a security registered in the name of a company. The Certified Corporate Resolution identifies the individual(s) who has been given the authority to sign on behalf of the corporation. The resolution must be dated within six months of the date the certificate is presented for transfer. A specimen signature(s) must also be provided. The person endorsing the certificate must be different from the person certifying the corporate resolution. The only caveat is if there is only one signing officer. The Certified Corporation Resolution must be Medallion STAMP guaranteed when a resolution is presented with the certificate.

    • Certified Corporate Resolution

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    If the security is registered in an individual’s name, the person receives dividends, shareholder communications, and other entitlements. They are allowed to vote in person or by proxy or attend any meeting of shareholders. When securities are held in an individual’s name, it may take longer to sell or dispose of the security, which makes it a bit of a disadvantage. If individuals buy securities from a broker or another financial institution, the securities are registered in the name of the broker or the financial institution. The individual is entitled to receive dividends, shareholder communications, and other entitlements through the broker. The individual may also vote and attend shareholders meetings, by using a voting instruction form. They may do this by mail or by advising their broker that they wish to attend. The broker will designate the individual as having a proxy upon receipt by the shareholder of a duly executed voting instruction form.

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    A cease trade order (CTO) is an order issued by a regulatory authority which prohibits trading in securities of a company, by people or companies identified in the order for the time specified in the order. A CTO may prevent all trading in the securities of a particular company. If you own shares in a company that is subject to a CTO, you will not be able to trade those shares.

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    To change the name appearing on the certificate:

    • Fill in the transfer panel (on the reverse side of the certificate).
    • Place your signature on the signature line, precisely as it appears on the front of the certificate.
    • The signature must be guaranteed by a Schedule I Canadian Chartered Bank, or financial institution that are members of a recognized Medallion Signature Guarantee (STAMP) Program.

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    The shareholder must email us at info@marrellitrust.ca or mail a signed Address Change Form, authoring MTCL to change the address on file.

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    Have your signature guaranteed by a representative at a local branch of a Schedule I Canadian chartered bank if you reside offshore, who can make arrangements to have the security guaranteed in Canada by the same bank.

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    This often happens due to receiving instructions to register shares or accounts in more than one variation of a name. MTCL is required to follow registration instructions as they are presented. MCTL cannot assume that the differences represent the same person, even if the address is identical. Please contact us if you wish to combine these accounts, in writing giving us the details of the accounts to merge, including; the preferred registration name, address, and details of the securities (certificate/DRS number, number of securities held and company name).

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    MTCL cannot provide this information. Contact your investment advisor for this information as they can provide an up to date price. You can also check with a stock quotation service provider.

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    No. Only a registered as a securities dealer is allowed by securities legislation to buy or sell securities. Contact IIROC (Investment Industry Regulatory Organization of Canada), if you require information or the services of an investment advisor.

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