3925. Supervision by designated persons

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    1. A Dealer Member must effectively supervise account activity and must use due diligence to provide reasonable assurance compliance with IIROC requirements, securities laws and applicable laws.

    2. A Dealer Member must designate one or more Supervisors to be responsible for approving the opening of new accounts and for establishing and maintaining procedures relating to account supervision and supervising account activity, in accordance with IIROC requirements.

    3. The designated Supervisor must be familiar with applicable IIROC requirements, securities laws and applicable laws and the Dealer Member’s policies and procedures. 

    4. A Dealer Member must appoint one or more alternate Supervisors as required, to the Supervisors designated in subsection 3925(2), to supervise the Dealer Member’s business and to assume the responsibility of the designated Supervisor in his or her absence.

    There is no history log for this rule.

    There is no history log for this rule.