Starting a MIC
Launch your MIC with Dolphin’s full suite of MIC products and services. From origination to servicing to a full accounting package, our MIC Management suite of products will provide an end to end software solution for your MIC.
Thinking of starting a MIC?
Dolphin Enterprises has been working with MICs for over 18 years implementing and enhancing MIC Manager software. Contact [email protected] for recommendations on best practices and suggestions for how to get started.
Implementing MIC Manager software will deliver a ready-made administration system to instantly deliver a backend office. No need to spend days creating an administration system but instead have a full end to end solution with MIC Manager for all functions and features for effective MIC Management.
Additional Resources
Compliance Seminar
Dolphin Enterprises, Jakab Law and Veronica Law Corporation were pleased to offer an important information session for new Compliance Regulations for B.C. MICs…Read More
Helpful Links
- Business Vancouver – BCSC tightens mortgage and investment exemptions
- Compliance Toolkit– The compliance toolkit provides registrants with easy access to frequently requested information about the rules and regulations that govern their day-to-day operations. This is an initiative of the Capital Markets Regulation division to ensure that our registrants have the necessary tools for compliance.
- More on the Client Relationship Model Phase 2 here
- Challenges to Starting a Mic: Paying Dividends – MIC to be MIC
- A MIC does not simply allow you to raise money from the public – Article by Jeff Levy, managing partner at and co-founder of Levy Zavet PC, Lawyers.
- For more information on Complaint requirements for MICs contact Jeff Levy
For Private Syndicated Lenders
Compliance Reports
Dolphin Share Module contains all required reports under National Instrument 31-103 and CRM2 regulations. MIC Manager contains current Commission and Fee reports, report 45-106 as well as the current required Investor Performance report. Compliance reports, particularly the Investor Performance report, require a record of posted transactions. MIC Manager is able to analyze the data in order to accurately generate these reports.
MICs:
- Investment Pools of capital which provide alternative sources of lending from the traditional banks
- Must comply with the Income tax act to receive tax incentives
- Must be audited annually
- Provide an excellent and consistent return to investors
- Requires extensive reporting, data management and interest calculations
- Must meet provincial security, mortgage and compliant regulations
More Information
Ten Top Tips for MICs, as published in the Summer 2010 edition of The BC Mortgage Broker magazine.
MICs: Make Money on Debt, an article published by moneysense.ca.
Top Ten Tech Tips, that every MIC needs to know
Contact Us
609-850 West Hastings Street, Vancouver, BC V6C 1E1 • Office (604) 685-6721
For inquiries, contact Shannon Dolphin: [email protected]
Contact
609-850 West Hastings Street
Vancouver, BC
V6C 1E1
(604) 685-6721
[email protected]