3404. Exemptions from the suitability determination requirements

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    1. Other than clauses 3402(3)(i) and 3403(4)(i), sections 3402 or 3403 do not apply in respect to: 
      1. an order execution only account, or
      2. a direct electronic access account.
    2. Sections 3402 and 3403 do not apply in respect to 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.
    3. Other than subsection 3403(4), section 3403 does not apply in respect to:
      1. an account held by a Dealer Memberregulated entity, exempt market dealer,  portfolio manager, bank, trust company or insurance company, or
      2. an account held by an institutional client that:
        1. is also a “permitted client”, as defined in National Instrument 31-103,
        2. is not a client described in clause 3404(3)(i), and
        3. has waived, in writing, the protections offered to them under subsections 3403(1) and 3403(2).
    4. Subsection 3403(4) does not apply to an account held by an institutional client who is a Dealer Member, regulated entity, exempt market dealer, portfolio manager, bank, trust company or insurance company.

    3405.    Reserved.

    There is no history log for this rule.

    There is no history log for this rule.