The procedures below apply to all residents of British Columbia
British Columbia has enacted regulations respecting the monitoring, reporting and remittance of unclaimed property. As a securities dealer, Haywood Securities Inc. ("Haywood") is subject to these regulations.
Application of Regulations
The Unclaimed Property Act (British Columbia) applies to property if the last known address of the client was in British Columbia and the client's account was opened or the transaction from which the property arose occurred after July 1, 2000. Those seeking information with respect to accounts opened prior to these dates or accounts of non-British Columbia residents should contact Haywood's Compliance Department at (604) 697-7100 or toll free at 1-800-866-6641.
In circumstances where the Unclaimed Property Act (British Columbia) applies, the following events will trigger action by Haywood if the amount at issue is greater than $50: (i) a client's mail is returned to Haywood; (ii) a client's cheque remains un-cashed and outstanding three years after the date of issue; (iii) a client has failed to respond, by the required date, to a requirement to take a certain action by a given date; (iv) a period of three years has passed without a client indicating an interest in property; or (v) a period of five years has passed since the date distribution from an RSP or RIF became mandatory without the occurrence of any of the client increasing/decreasing the principal of the account, the client accepting payment of principal or interest from the RSP or RIF and/or receipt by Haywood of an indication of the client's interest in the property.
For the purposes of the triggering events described above, a client "indicates an interest in property" when a client provides instructions for a trade, confirms or updates investor profile information, makes an inquiry or confirms an interest with respect to an account to a Haywood employee.
Haywood's Action to Locate Client
Once a triggering event has occurred Haywood will record the client's name, account number, date of triggering event and nature of the triggering event in a database and Haywood will use reasonable efforts to locate the client for a period of six months. Haywood considers reasonable efforts to include one or more of (i) using on-line resources to locate the client; (ii) reviewing other Haywood accounts related or connected to the client that may have different contact particulars; and/or (iii) attempting to contact the client by telephone and e-mail at the clients last know telephone or e-mail address, as applicable.
If the client has not been located within 12 months of the triggering event, the property will be designated as unclaimed.
Haywood will provide public notice of the availability of information with respect to unclaimed property on its web site by publishing the following on its home page "Unclaimed property notice for residents of British Columbia - Haywood Securities Inc. is in possession of unclaimed property."
Questions with respect to this property can then be made in writing to:
Haywood Securities Inc.
Attention: Compliance Department - Unclaimed Property
7th Floor, Waterfront Centre,
200 Burrard Street
Vancouver, British Columbia
Proof of Claims
Haywood must be satisfied of any claimant's identity and entitlement to any funds prior to releasing such funds. Therefore, all claims must be submitted to Haywood in writing and any claimant must provide at least two pieces of identification, at least one of which is photo ID. Such documentation must establish the name, signature and date of birth of the claimant. Proof of a Social Insurance Number must also be obtained.
All claimants will be requested to provide an adequate description of the account's operation, including, but not limited to, the date the account was opened, the type of account, the approximate value of account and trading activity, all of which will be reviewed against the account's history.
All claimants must complete an indemnity agreement prior to the release of funds to such claimant.