Government of Canada / Gouvernement du Canada
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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 19 from 2008-06-23 to 2021-05-31:

  •  (1) Subject to section 20.2 and subsection 62(2), every life insurance company or life insurance broker or agent shall keep a client information record for every purchase from the company, broker or agent of an immediate or deferred annuity or a life insurance policy for which the client may pay $10,000 or more over the duration of the annuity or policy, regardless of the means of payment.

  • (2) Subject to section 20.2 and subsection 62(2), in the case of a life insurance policy that is a group life insurance policy or in the case of a group annuity, the client information record shall be kept in respect of the applicant for the policy or annuity.

  • SOR/2007-122, s. 32

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