Why MQCC™ SAFER™ Private Finance is Important for Government and Non-Government Regulated and Licensed Finance Sector Intermediaries

One reason is that MQCC is important because it recognizes the true risk that face government licensed and regulated credit intermediaries when they trade in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) or services (methods); as follows:

1 - One or All of the following parties:

• your customer

• your regulatory body

• your licensing body

• your professional liability and errors and omissions insurer, risk underwriter, insurance agent or broker

• your Designated Broker

• your Chief Executive Officer (CEO) of your brokerage

• your brokerages' Top Management (as defined in the applicable Canadian Federal and International Standard)

• your brokerage's shareholders, investors, lenders and corporate risk insurers/Directors and Officer's Liability Insurer and risk underwriters

• prospective customers

require that you or your:

• Brokerage

• Fellow Brokers (Agents and Sub-Brokers)

• Unlicensed assistants

trade in credit transactions:

• to a standard that conform to expectations and requirements by regulators, consumers, investors, lenders, fellow employees, shareholders of your brokerage, Top Management of your brokerage and your professional liability and errors and omissions insurers/brokers/agents; namely, that you:

Operate or Function or Act in a manner that is beyond reproach (or, at the minimum, accountable); specifically, that is: 

• at a minimum; competent in nature (ie; you have necessary and sufficient training; you are tested for efficacy and possess minimum competency standards to trade with the public.)

Example of Competency Standards include: MQCC™ Competency - Private Finance 001/2006-2021-CPFS

Visit PEM® Institute (PEMI®) at www.PEMInstitute.org to learn more.

• at a minimum; proficient in nature (ie; you have necessary and sufficient training; you are tested for efficacy and possess minimum proficiency standards to trade with the public and lead others in the role of an authority on the subject.)

Example of Proficiency Standards include: MQCC™ Proficiency - Private Finance 001/2006-2021-PPFS

Visit PEM® Institute (PEMI®) at www.PEMInstitute.org to learn more.

so that all:

• statutory requirements

• regulatory requirements

• industry requirements

• procedural requirements

are satisfied, for each and every transaction in which you are involved; with records and evidence of conformity to be held and made available for regulatory audit or other discovery, for a period of up to seven (7) years; subject to your jurisdiction of regulation, licensure or operation.

2 - All of the following leadership roles:

• regulatory bodies and regulators (Chief Executive Officers CEO; Executive Directors; Investigators; Lawyers; Market Conduct Officials)

• Professional liability and errors and omissions insurer, risk underwriter, insurance agent or brokers

• Lawyers with an expertise in professional negligence

• Trained, Tested and Accredited Academics

Will acknowledge that the nature, quality, feature, characteristic, extent and function of financial (finance industry sector) trade classified as: 

Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow

for example:

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow loans

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow mortgages

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow currency

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow investments

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow fiduciary and non-fiduciary services

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow financial sector services (methods)

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow other financial sector services (methods) or goods (products) - fungible and non-fungible

is scientifically (precisely, exactly, empirically, materially, measurably) dissimilar to trade in traditional and general financial intermediation, namely, 

Non-Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow

for example:

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow loans

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow mortgages

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow currency

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow investments

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow fiduciary and non-fiduciary services

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow financial sector services (methods)

• Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow other financial sector services (methods) or goods (products) - fungible and non-fungible

• Financial goods (products) and services (methods) provided by 

(a) Central Banks (CB)

(b) Federally Regulated Financial Institutions (FRFI)

(c) other-jurisdiction-Regulated financial institutions, including those regulated by members of:

• FINRA (Financial Industry Regulatory Authority; USA) 

• CSA (Canadian Securities Association; Canada)

• FCA (Financial Conduct Authority; United Kingdom UK)

• And other International equivalent bodies

Organization System Process Levels of Activity:

Scientifically (precisely, exactly, empirically, materially, measurably) dissimilar because the Kind of Activity Units KAU which produce the output of Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods and services are inherently not the same as the KAU which produces the output of non- goods and services, specifically, the principal productive activity accounts for most of the value added is not the same; KAU is a definition of the OECD, United Nations and member states; see OECD/UN/WIPO/WTO Textbook written by Anoop Bungay available at Amazon® and Google Play®; entitled:

• How the April 9, 2005 - World's First - Commercial Application of "Principles of 'BlockChain'" Was Influenced by Secretaries- & Directors-General of UNGA, OECD, WIPO & WTO Organizations from 2001-2005How the April 9, 2005 -World's First- Commercial Application of "Principles of 'BlockChain'" Were Influenced by Secretaries- & Directors-General of UNGA, OECD, WIPO & WTO Organizations from 2001-2005); for organizational references).

3 - In additional to Industry Sector-based differences, the Occupational differences are also dissimilar because the "tasks" which comprise the "the principal productive activity accounts for most of the value added" are separate and distinct from non-Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods and services transactions; borne of dissimilar:

Human Levels of Activity:

• Blooms Knowledge Management Framework

• DACUM Learning, Education and Training LET Framework

• Standard Occupational Classification Framework

and dissimilar:

• work performance (for both regulated and non-regulated activities and extents)

• job duties

• skills

• education

• training

• testing

• accreditation and certification

• accreditation of educational organizations

• career frameworks

• standards and applications of systems, technologies and tools

• degrees or other credentials generally required

and dissimilar:

• competency standards

• proficiency standards

and dissimilar:

• organization direction and planning

• organization management

• organization and employee supervision

and dissimilar:

• compensation to practitioners

• costs and fees to applicants/borrowers

• investment returns and yields to investors and lenders

and dissimilar:

• professional liability; errors and omissions risk liability insurer/broker/agent underwriting standards

• rates of risk resulting into loss; for example, all regulators and professional liability insurers will confirm that Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow finance sector transactions inherently have a higher probability of high-risk events including:

* Regulatory and non-Regulatory complaints

* Loss of Investor-Lender funds $$;

* Predatory behaviour of untrained Investors, Lenders, Brokers;

* Improper understanding of critical and complex residential and commercial private lending transactions;

* Insufficient or improper training, education, testing, accreditation, skills assessment of practitioners;

* Insufficient or improper standards, systems, technology and tools at both a corporation, organization and individual level (COIN™);

* Insufficient experience; 3 years for vocational standard; 4 years for bachelor degree level; 6 years for Masters (bachelor degree included); 8 years for Ph. D. level (bachelor, masters included); 12 - 15 years for expert standard; leadership level experience.

* This is not a complete list;

resulting in the causing of harm to consumers (applicants, borrowers, investors, lenders) by persons or organizations that do not possess necessary and sufficient skills, education, training, experience, organizational systems and organizational controls to effect competent or proficient delivery of goods and services of a Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow quality or nature resulting in:

* Financial $$$ penalties paid by brokers, brokerages, agents and sub-brokers due to nonconformity events including system errors, omissions and human errors and omissions;

* Regulatory complaints against brokers, agents or sub-brokers and unlicensed assistants;

* Company (brokerage) complaints;

* Statements of Claim (legal disputes);

* This is not a complete list.

Another reason is that MQCC is important is because it revolutionized the standards, systems, technologies and tools related to the origination and completion of 'private lending' or Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow finance sector transactions because:

MQCC is the Global Network Administrator GNA™ for PRIVATLENDER.ORG: Canada's Private Lending Network®; The World's Private Finance Network™

Which revolutionized mortgage origination by introducing: Professional Liability and Errors and Omissions Prevention-Integrated, Fully Indemnified Private Lender Origination for Mortgage Brokerages whose Professional Liability, Errors and Omissions Insurance companies do not classify and recognize  and insure the brokerage for "primarily trading in non-bank or Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) and services (methods)"; and therefore the organization does not possess the minimum standards of competence nor proficiency and systems, technology and infrastructure, management and supervision expected of a practitioner or organization that primarily trades in, and is insured primarily for, trade in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow goods (products) and services (methods). Register at edu.MQUCC.org to learn more; or simply send your deals to MQCC™ and Learn as you Work™.

All you need is an email account to ENTER THE BLOCKCHAIN™ (www.EnterTheBlockChain.com); or simply email your files to underwriting@mortgagequote.ca to enjoy the benefits (subject to organization regulatory intake agreements signed by your broker of record or CEO).

This is just some examples of why MQCC™ is good for you. Read this website and related websites and textbooks to learn fully and completely.

Benefits:

• Establish Trust 

in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

• Create a Transparent Operating Environment 

for Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

• Establish Accountability 

in Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

• Assure Products (goods) and Methods (services) meet National and International Standards of Quality resulting in better, safer and more efficient products and methods 

related to Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow Finance Transactions

• MQCC™ Systems Level Artificial Intelligence (SLAI™) -based

for errors and omissions, professional liability insurance risk management and underwriting integration and assurance.

For the benefit of the following class of financial sector participants or entities:

• Consumer

• Industry

• Government

• Non-Government Organization

For the benefit of the following roles of financial sector participants or entities:

• Borrower - Investee

• Investor

• Broker

• Regulator

• Insurer

For the following goods (products) and services (methods):

• Mortgages

• Loans

• Currency

• Other Asset or Debt or "Object of Value" (fungible or non fungible)

The Top Management skill set; employee skill set and corporate, legal, regulatory, compliance and other resources required to trade or deal in private/crypto/peer-to-peer/secret/shadow finance is extensive; for example, a company operations must include the following, to be safe:

• Onsite Supervisor/Manager

• Remote Supervision

• File Review/File Audits

• Regular Meetings (monthly, quarterly etc)

• Policies and Procedures/Best Practices

• Remote Training/Support (Phone/Email/Fax/Online)

• In-person Training/Support

• Individual Performance Reviews of Agents/Brokers

Top Management must also:

• Review the brokerage’s Policies and Procedures at least once annually.

• Principal Broker MUST respond - in writing - to all written complaints received.

• A complaint is only resolved if the brokerage Top Management has addressed and responded in writing to all concerns raised by the complainant.

Not a complete list

Borrower - Investee

www.privatelender.org: Global Private Lending Network®

www.mortgagequote.ca

www.bitmortgage.com®

www.PEMInstitute.org Private Equity Mortgage Institute®

And see the Borrower Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Investor

General Investor Website:

investor.mortgagequote.ca

www.privatelender.org

www.bitmortgage.com®

www.PEMX.com®

www.PEMInstitute.org Private Equity Mortgage Institute®

www.GAMUS.org GAMUS: Generally Accepted Mortgage Underwriting Standards™

www.CMHCBlockChain.com: MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

MQCC™ FCP Fiduciary Capital Partners™ Website:

fcp.mqcc.org

Investing for Professional Active and Retired Athletes Website:

pa.mqcc.org

And see the Investor Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Broker

Government Regulated Mortgage Brokers Website:

broker.mortgagequote.ca

www.bitmortgage.com®

www.PEMInstitute.org Private Equity Mortgage Institute®

www.GAMUS.org GAMUS: Generally Accepted Mortgage Underwriting Standards™

www.CMHCBlockChain.com: MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

And see the Broker Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Regulator

Government and Regulator Website:

www.mqcc.org

And see the Regulator Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Insurer

Errors and Omissions; Professional Liability Insurers Website:

www.mqcc.org

www.PEMInstitute.org Private Equity Mortgage Institute®

www.GAMUS.org GAMUS: Generally Accepted Mortgage Underwriting Standards™

www.CMHCBlockChain.com: MQCC™ Canada Mortgage/d’Hypothèques Conformity (CMHC) BlockChain

And see the Insurer Articles found in the MQCC Blog™: Blog.MortgageQuote.ca

More references websites are found in the footer of this website.

Visit www.BitCoin.eco to learn more.