JORDAN Capital Markets Inc. (“JORDAN”) is subject to regulations respecting the monitoring, reporting and remittance of unclaimed property.  The Unclaimed Property Act (British Columbia) (“the Act”) applies to property if the last known address of the client was in British Columbia and the client’s account was opened, or the transaction from which the property arose, occurred after July 1, 2000.  This policy, however, shall apply to all unclaimed policy, regardless of the client’s residency.

The process through which JORDAN will deal with client assets for which contact with the client has been lost is as follows:

1. A triggering event will lead JORDAN to believe the client has lost interest in communicating with JORDAN regarding assets held by JORDAN on their behalf.  Within six months of this triggering event, JORDAN will undertake reasonable steps to re-establish contact with the client.
2. When 12 months have lapsed since the triggering event, if contact has not been established with the client, the property held on behalf of the client is deemed “unclaimed property”.  Notice that JORDAN is in possession of unclaimed property shall be posted on our website.

Triggering Events

Triggering events include circumstances in relation to an amount greater than $50 where:

1. a client’s mail is returned to JORDAN;
2. a client’s cheque remains un-cashed and outstanding three years after the date of issue;
3. a client has failed to respond, by the required date, to a requirement to take a certain action by a given date;
4. a period of three years has passed without a client indicating an interest in property; or
5. a period of five years has passed since the date distribution from an RSP or RIF became mandatory without the occurrence of any of the client increasing/
   decreasing the principal of the account, the client accepting payment of principal or interest from the RSP or RIF and/or receipt by JORDAN of an indication of the client’s interest in the property.

For the purposes of the triggering events described above, a client “indicates an interest in property” when a client provides instructions for a trade, confirms or updates investor profile information, makes an inquiry or confirms an interest with respect to an account to a JORDAN employee.

Once a triggering event has occurred  JORDAN will record the client’s name, account number, date of triggering event and nature of the triggering event in a and JORDAN will use reasonable efforts to locate the client for a period of six months.  JORDAN considers reasonable efforts to include one or more of

1. using on-line resources to locate the client;
2. reviewing other JORDAN accounts related or connected to the client that may different contact particulars; and/or
3. attempting to contract the client by telephone and e-mail at the clients last know telephone or e-mail address, as applicable.

If the client has not been located within 12 months of the triggering event, the property will be designated as unclaimed

Public Disclosure

JORDAN will provide public notice of the availability of information with respect to unclaimed property on its web site by publishing the following in the Legal Terms and Disclaimers section of its website. Questions with respect to unclaimed property can then be made in writing to:
Jordan Capital Markets Inc.
Attention: Compliance Department – Unclaimed Property
1900, 1075 West Georgia Street
Vancouver, British Columbia
V6E 3C9

JORDAN must be satisfied of any claimant’s identity and entitlement to any funds prior to releasing such funds.  For this reason, all claims must be submitted to JORDAN in writing and any claimant must provide at least two pieces of identification, at least one of which is photo ID.  Such documentation must establish the name, signature and date of birth of the claimant. 

All claimants will be requested to provide an adequate description of the account’s operation, including, but not limited to, the date the account was opened, the type of account, the approximate value of account and trading activity, all of which will be reviewed against the account’s history.
Claimants may be asked to complete an indemnity agreement prior to the release of funds to such claimant.

Clients who wish to obtain information regarding unclaimed assets, or to find out about unclaimed assets at the British Columbia Unclaimed Property Database, clients may be referred to contact the British Columbia Unclaimed Property Society at (888) 662-2877 or www.bcunclaimedproperty.bc.ca.  JORDAN forwards the necessary information (name of account holder and the date the account was coded abandoned annually to the BC Unclaimed Property Society, where it is posted on their webpage enabling clients to view the details. (Cash and securities remain in the account).