The Investment Dealers Association of Canada has set out the process for reporting trade names to the IDA.

In a notice released today, the IDA reminds its members that it may prohibit firms or individual reps from using any trade name that is contrary to its by-laws, or is objectionable or contrary to the public interest.

Under IDA by-laws, firms must notify the IDA before using any business, trade or style names other than their legal name.

Trade names used by a rep that are not owned by the firm must also be reported to the IDA.

Although firms are not required to forward proof that the registration process has been completed, it is recommended that they conduct the necessary due diligence and file it as a supporting document with the IDA Registration office.

Provincial securities commissions may also require notification of trade names used by a registered firm or individual, the IDA notes. This sort of notification is separate from the notification required by the IDA.