3926. Account supervision policies and procedures 

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    1. A Dealer Member’s policies and procedures must specifically address account supervision, which includes its standards for the review and supervision of account activity.

    2. A Dealer Member’s policies and procedures must specifically address the Dealer Member’s obligations to:

      1. identify clients that present a high risk to the Dealer Member,

      2. identify clients that present a high risk of conducting improper activities in the securities markets, and

      3. comply with all anti-money laundering and terrorist financing requirements under applicable laws.

    3. All policies and procedures relating to the supervision of accounts held at a Dealer Member and any substantive amendments to such policies and procedures, must be approved by the Dealer Member’s Chief Compliance Officer or another appropriate Executive.

    4. A Dealer Member must provide all supervisory staff with written:

      1. procedures to be followed in reviewing account activity, and

      2. confirmation of the Dealer Member’s expectations of supervisory staff, with respect to their supervisory roles and responsibilities.

    5. A Dealer Member’s policies and procedures must include controls for accessing and amending client records

    6. A Dealer Member must periodically review the  policies and procedures used at its head office and its branch offices to provide reasonable assurance the policies and procedures continue to be effective and reflect current legislative and regulatory requirements, as well as industry practices. 

    There is no history log for this rule.

    There is no history log for this rule.