Unmonitored Advisors/Shareholders

When an advisor or shareholder has:

1. failed to provide proof of the renewal or reinstating of his or her resident licence within 30 days following its expiration (if applicable);

2. failed to provide proof of a valid E&O within 30 days following its expiration (if applicable); or

3. failed to perform an annual attestation in the prior 14 months,

the advisor or shareholder will no longer be monitored and their profile will be updated to reflect this status.

When an advisor is unmonitored, APEXA will no longer do automatic updates for licences in provinces with licence lookup functionality - Alberta, British Columbia and Saskatchewan.

While an advisor is unmonitored, those clients with an active relationship (contract in pending, active, downgraded or vested status) will see that in the advisor header information. For the first 30 days that an advisor or shareholder is unmonitored, the indicator will be yellow. Past that time, the indicator will be red.

Monitoring Reinstatement

If the offending licence and/or E&O coverage is renewed or reinstated (including validation of the item, if applicable), the advisor or shareholder will be placed back under monitoring.

Similarly, if the advisor or shareholder performs his or her outstanding attestation, and his or her licence and E&O coverage are still active, the advisor or shareholder will be placed back under monitoring.