This section deals with all types of owners who are not individuals. LBDB offers brokerage accounts for the following legal entities:
Registered accounts cannot be selected for these holders and in the case of estates, trusts and tutorships/curatorships (committeeships/guardianships), only a cash account may be used.
A new regulation has been recently put into place regarding the notion of true ownership. This requires that all owners with a participation in the company that is greater than 10% must complete the "Information on Beneficial Owners" form. Estate, testamentary trust, and tutorship/curatorship (committeeship/guardianship) accounts are not subject to this requirement.
Any form of company may open a non-registered brokerage account if believed it to be in their interest. It is very important that the corporate resolution be properly filled out. The names of those authorized to issue instructions in the name of the company must be clearly indicated.
LBDB accepts investment instructions by phone or via the "in Solo" transaction platform. As a result, if there is more than one representative, each one cannot be named so as to act jointly.
The sole proprietorship account is a commercial account for self-employed individuals who want their investment portfolio to be under the name of the company.
Those who want to pool their investment experience can form an investment club and open a brokerage account.
Because of the complexity of the documentation required to open these accounts, it is preferable to visit a Laurentian Bank branch for assistance. However, if you would like to open an account by mail, you may contact one of our representatives for more information. Only a cash account can be opened for these types of accounts.
To find out about the documentation necessary to open these types of accounts, consult Application Forms.