HI, Hopefully i'm in the right section. We are a few Canadian colleagues that are looking to create a private investment club focused on US futures market. My simple question is, do we have to register with the AMF if we plan on trading US markets solely? If anyone has information about a Canadian investment club focused on trading US markets, please share. Thank you.
Don't clubs have meetings and refreshments after, or you looking to pool monies like a mutual fund? I think Robert would know more about this as he works for Victor Securities. rmorse@victorsecurities.com
Short answer: No. If you are not taking in outside monies, you don't need a PIC structure at all. If you are, PIC can be used but keep it under 50 members.
I'm not familiar with Canadian securities laws and how they apply to US futures markets. I don't know if the FCM needs to be registered with Canada. If you were in the USA, you would either have to register as a CPO or find an exemption and file to be exempt. https://www.nfa.futures.org/NFA-registration/cpo/index.HTML Before that, create your entity, open a business checking account, then open an account at the FCM of your choice. Ready to go.