3211. Account appropriateness

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    1. Before a Dealer Member opens an account for a person, the Dealer Member must determine, on a reasonable basis and putting the person’s interest first, that:
      1. this action is appropriate for the person, and
      2. the scope of products, services and account relationships which the person would have access to within the account are appropriate for the person.
    2. Clause 3211(1)(ii) does not apply in respect to:
      1. an order execution only account, or
      2. a direct electronic access account.
    3. Subsection 3211(1) does not apply in respect to:
      1. an account maintained at a Dealer Member who is a carrying broker for that account or who only provides trade execution, clearing, settlement or custody services or a combination of these services to another Dealer Member, portfolio manager, exempt market dealer or their respective clients, for that account, or
      2. an account held by a Dealer Member, regulated entity, exempt market dealer, portfolio manager, bank, trust company or insurance company.

    There is no history log for this rule.

    There is no history log for this rule.