Compliance Memo

Compliance Memorandum 2018-02; Electronic Communications

For more information, contact:

Compliance Team

Date Issued:

July 30, 2018

Recently, the MFDA issued a bulletin outlining rules, guidelines and best practices related to electronic communications.

We would like to remind you that all client electronic communications must be delivered using the corporate email server using your approved email account. Any other method of electronic communication is prohibited.

The corporate server and your email account adhere to the regulatory requirements and standards of proper encryption, security, backup and disaster recovery.

As part of our electronic communications policy, we remind clients that we will never send a request asking for personal, login or account information by email. We also ask clients to notify us immediately if they receive an email requesting this type of information and the email appears to have been sent from GP Wealth Management.

You would also ask that you discourage clients from sending you personal and confidential information using email as this practice can compromise a client’s privacy.

Important Information

When sending personal information using your email account (e.g. Client ID, Client Plan ID, Account Numbers, Banking Details etc.), there are two methods that meet the basic security standards to protect a client’s personal information:

  1. By sending a password protected attachment. The password notification must be sent in a separate communication to meet basic security protocols either by email or phone call. If you are unsure how-to password protect a document, contact Miguel Virto at:
  2. By sending a link to a secured URL or folder that is unique to the recipient such as the OneDrive application. If you are unsure how to use this option, contact Miguel Virto for training and support.

Also, as an important reminder, it is strictly prohibited to accept an email for redemption instructions without direct verbal communication with the client.

Lastly, the use of your GPWM approved email account is solely for GPWM business activities. For personal matters please use a separate email account.

Please refer to MFDA Bulletin #0744-C; Electronic Communications Review; MFDA Rule 5: Books and Records, Rule 2.1.3: Confidentiality and Protection of Client Information and MFDA Rule 1.4 and Policy 6: Reporting Requirements for further guidance and clarification in respect of the disclosure and record-keeping requirements.

As always, if you have questions or comments, contact the Compliance Department by email at