The Ontario Securities Commission (OSC) is the regulatory body responsible for regulating the province’s capital markets, according to a mandate established in the Securities Act (Ontario) and the Commodity Futures Act (Ontario). The Commission is a self-funded Crown corporation, accountable to the Legislature through the Minister of Finance.

It administers and enforces securities legislation in the Province of Ontario. Its mandate is to:

1. Provide protection to investors from unfair, improper and fraudulent practices; and;
2. Foster fair and efficient capital markets.

What is FINTRAC?

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is Canada’s financial intelligence unit, a specialized agency created to collect, analyze and disclose financial information and intelligence on suspected money laundering and terrorist financing activities. It operates at arm’s length from law enforcement agencies. Created in July 2000, the Centre is an integral part of Canada’s engagement in the global fight against money laundering and the financing of terrorist activities.

BMG and its subsidiaries are registrants with FINTRAC, as either Securities Dealers or Dealers in Precious Metals and Stones as may be applicable under varying circumstances, and as it relates to our various product offerings.  As a registrant, any and all transactions with both domestic and international clients are assessed and completed in accordance with the regulations, guidelines and directives established by FINTRAC, in our collaborative effort to minimize or eliminate the risks associated with money laundering and terrorist financing activities.

BMG and all of its current and future subsidiaries will comply, to the fullest extent possible, with any and all regulations, requirements and directives issued by FINTRAC, effective as of the date of this policy statement and as may be amended by BMG at any time in the future.

This policy statement applies to BMG as it relates to any of its operations where it would be deemed to be carrying on business as a Securities Dealer or as a Dealer in Precious Metals and Stones, as defined by FINTRAC, or in any other business activity that may commence at some future date.

This policy statement requires the adherence of BMG and its directors, officers and employees to the obligations as defined by FINTRAC, more specifically as it relates to:

1. ascertaining the identity of BMG clients;
2. beneficial ownership records;
3. third-party determinations;
4. the identification of politically exposed foreign persons;
5. record keeping; and
6. reporting of suspicious or attempted transactions, terrorist property or large cash transactions.

This policy statement is authorized and approved by the Board of Directors and the Executive Management of BMG.

Dated December 1, 2008