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The Agreement Between Brokers serves as a foundational document for establishing formal business relationships between licensed securities brokers operating in Canada. This agreement is essential when brokers wish to collaborate on client services, share commissions, or establish introducing/carrying broker arrangements. It ensures compliance with Canadian securities regulations, including provincial Securities Acts, IIROC requirements, and federal legislation such as anti-money laundering laws. The document typically includes detailed provisions for operational procedures, risk allocation, client relationship management, and data protection protocols. It's particularly relevant for situations involving cross-border trading, institutional client servicing, or retail client account management between multiple brokers.

1. Parties: Identification of the broker firms entering into the agreement, including their registered business names, registration numbers, and principal places of business

2. Background: Context of the agreement, including the nature of the brokers' businesses and general purpose of their collaboration

3. Definitions: Key terms used throughout the agreement, including regulatory and industry-specific terminology

4. Scope of Relationship: Definition of the business relationship between the brokers and the territories or markets covered

5. Regulatory Compliance: Commitments to comply with applicable securities laws, IIROC rules, and other relevant regulations

6. Services and Obligations: Detailed description of services to be provided by each broker and their respective obligations

7. Commission Structure: Terms for sharing commissions, fees, and other compensation between the brokers

8. Client Relationships: Guidelines for handling client relationships, including client ownership and non-solicitation provisions

9. Confidentiality: Provisions for protecting confidential information and trade secrets

10. Privacy and Data Protection: Requirements for handling personal information in compliance with privacy laws

11. Representations and Warranties: Standard declarations regarding licensing, authority, and capacity to enter into the agreement

12. Indemnification: Terms for mutual indemnification and allocation of liability

13. Term and Termination: Duration of the agreement and conditions for termination

14. Dispute Resolution: Procedures for resolving disputes between the parties

15. General Provisions: Standard boilerplate clauses including governing law, notices, and assignment