3206. Establishing identity

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    1. For each beneficial owner or individual described in subsections 3203(1)(iii) and 3204(1)(iii), the Dealer Member must establish the identity of such individual by using such methods that allow the Dealer Member to form a reasonable belief it knows the identity of the individual and by taking reasonable measures to confirm the accuracy of the information obtained.
    2. The Dealer Member shall keep a record that sets out the information obtained and the measures to confirm the accuracy of that information.
    3. The identity of such individual in subsection 3206(1) must be established as soon as practicable but not more than 30 days after opening the account.
    4. If the identity of such individual referred to in subsection 3206(1) cannot be established within 30 days of opening an account, the Dealer Member must restrict the account solely to liquidating trades, transfers, paying out funds or delivering securities.  These account restrictions must remain in place until the Dealer Member establishes the individual’s identity.

    There is no history log for this rule.

    There is no history log for this rule.