3201. Introduction

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    1. 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.
      [section 3230]

      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]
    2. 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.
    3. 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:  

      ”financial exploitation” 

      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.  

      “vulnerable client” 

      means a client who might have an illness, impairment, disability or aging-process limitation that places the client at risk of financial exploitation.  

    4. The following terms have the meaning set out below when used in Part D – Order Execution Only Accounts: 

      ”adviser” 

      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

     

    There is no history log for this rule.

    There is no history log for this rule.