- Rule 3200 sets out Dealer Members’ obligations when opening new accounts and maintaining existing accounts. Rule 3200 is divided into seven parts as follows:
Part A – Know‐Your‐Client and Client Identification Requirements:
sets out Dealer Members’ obligation to know and identify each client and to learn and remain informed of the essential facts about each client, account and order accepted.
[sections 3202 through 3209]
Part B – Requirements for Client Accounts:
sets out the general account opening and updating procedures that, subject to certain exceptions specified within the requirements, are applicable to all accounts.
[sections 3210 through 3222]
Part C – Advisory Accounts:
sets out requirements that apply where the account is an advisory account.
Part D – Order Execution Only Accounts: sets out requirements that apply where the account is an order execution only account.
[sections 3240 and 3241]
Part E – Margin Accounts:
sets out requirements that apply where the account is a margin account.
[sections 3245 through 3247]
Part F – Additional Account Opening Requirements for Options, Futures Contract and Futures Contract Options Trading:
sets out additional account opening and updating procedures for options, futures contracts and futures contract options trading accounts.
[sections 3250 through 3260]
Part G – Discretionary Accounts and Managed Accounts:
sets out requirements that apply where the account is either a discretionary account or a managed account.
[sections 3270 through 3281]
- Rule 3200 applies to Dealer Members in addition to all other IIROC requirements. No part of Rule 3200, unless otherwise specified, shall be interpreted to grant a Dealer Member an exemption for complying with other IIROC requirements.
- The following terms have the meaning set out below when used in Part A – Know-Your-Client and Client Identification Requirements and Part B – Requirements for Client Accounts:
means the use or control of, or deprivation of the use or control of, a financial asset of an individual by a person through undue influence, unlawful conduct or another wrongful act.
“trusted contact person”
means an individual identified by a client to a Dealer Member or Approved Person whom the Dealer Member or Approved Person may contact in accordance with the client’s written consent.
means a client who might have an illness, impairment, disability or aging-process limitation that places the client at risk of financial exploitation.
- The following terms have the meaning set out below when used in Part D – Order Execution Only Accounts:
means a person that is not an individual and is registered as an adviser in accordance with securities laws.
”foreign adviser equivalent”
means a person that is not an individual and is in the business of trading securities in a foreign jurisdiction in a manner analogous to an adviser.