The Saskatchewan Financial Services Commission reports it is to begin examination programs for advisors and deposit agents.

These are two categories of registrants that are not examined by self-regulatory organizations. Investment dealers are examined by the Investment Dealers Association and mutual fund dealers are examined by the Mutual Fund Dealers Association.

The advisor examination will assess whether advisors are in compliance with Saskatchewan securities laws. Beginning in May 2005 advisors will be examined on a regular basis, generally every three years unless there is cause to examine them sooner, a notice states. The examinations will focus on financial condition, contracts, portfolio management, trade and brokerage, conflicts of interest, custody of client assets, marketing and administration.

The deposit agent examination will assess whether deposit agents are in compliance with the Business Practice Rules adopted in March 1993. They will also be examined on a regular basis.