The 2023-2024 Membership Application Form.
Membership FAQ
Is my organization eligible for membership?
Firms that are registered and regulated as a portfolio manager (PM) or restricted portfolio manager with one or more members of the Canadian Securities Administrators (CSA) are eligible to join PMAC as members with full access to PMAC member benefits and resources. As a condition of membership, firms must adopt or comply with the CFA Institute Asset Manager Code of Professional Conduct™. Firms relying on the foreign adviser expedition are also eligible for membership. Firms in the process of registering as a portfolio manager are eligible to join PMAC as conditional members, with limited access to PMAC member benefits and resources[1].
Are there any conditions of membership?
Yes, PMAC membership is available only to firms who meet the below criteria:
- registered and regulated as a portfolio manager, restricted portfolio manager, or relying on the foreign adviser exemption, with one or more members of the Canadian Securities Administrators;
- have portfolio management as a major focus of its business;
- qualifies for and maintains insurance coverage as required under National Instrument 31-103[2] and professional liability (E&O) insurance; and
- has adopted or complies with key aspects of the CFA Institute Asset Manager Code of Professional Conduct™
Firms in the process of registering as a portfolio manager are eligible to join PMAC as conditional members, with limited access to PMAC member benefits and resources[1].
How much does membership in PMAC cost?
PMAC has set membership fees based on assets under management (AUM). For more information on Member Fees, please contact Nick Rhodenizer, Member Development Manager, at nrhodenizer@pmac.org.
How long does membership last?
PMAC membership is for a 12-month period, which runs July 1 – June 30 annually. For the first year of membership, fees are prorated to the closest month. Annual memberships renew on July 1.
Does PMAC offer membership to organizations that are not CSA-registered portfolio management firms?
Yes, PMAC offers affiliate membership to major suppliers and/or professional advisors to the investment industry who are considered leaders in their field, such as law firms, accountants, custodians, consultants, vendors, or other entities concerned with the interests of CSA-registered portfolio managers, who may benefit from participation with the Association and whose participation with the Association may be of benefit to PMAC Members. Affiliate members receive many, but not all PMAC member benefits. You can learn more about PMAC Affiliate Membership here, or by contacting PMAC’s Member Development Manager, Nick Rhodenizer, at nrhodenizer@pmac.org.
Does PMAC offer individual memberships?
PMAC does not offer individual memberships. Membership with PMAC is at the firm-level; any employee of a PMAC member firm may have access to PMAC benefits and resources at no additional cost to the firm. Individuals can be placed on a mailing list for PMAC events.
How can I get more information about membership with PMAC?
Contact PMAC’s Member Development Manager, Nick Rhodenizer, at nrhodenizer@pmac.org.
Other Information
Membership does not – and may not be used to – imply PMAC’s endorsement of any firm, products, services, or personnel.
It is understood that PMAC may terminate a member if, in its judgement, the member has violated any material provision of the applicable securities legislation under which it is registered and/or ceased to meet the conditions for membership set out in the Association’s by-laws or for the failure to pay any annual or special fees, dues or assessments, and the member has failed to rectify the default as provided for in the by-laws.
Membership in the Association shall automatically terminate upon the occurrence of certain events, including but not limited to a member filing for or becoming bankrupt, but such termination of membership shall not relieve the member from the obligation to pay any annual or special fees, dues or assessments then due or accruing due.
Application Process
Please complete the 2022-2023 membership application form and submit by email or mail.
Upon receipt of application, it will be reviewed by staff for completion, and then sent to the PMAC Executive Committee for review and discussion.
[1] Firms in the process of registering will not be listed publicly on PMAC membership list or website
[2] As set out in Sections 12.4 and 12.5 of National Instrument 31-103 – Registrant Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103).
