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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 23 from 2017-06-17 to 2021-05-31:

 Subject to subsection 62(2), every securities dealer shall keep the following records:

  • (a) in respect of every account that the securities dealer opens, a signature card of every person who is authorized to give instructions in respect of the account or an account operating agreement or account application that contains that person’s signature;

  • (a.1) in respect of every account that the securities dealer opens, a record that sets out the intended use of the account;

  • (b) where the securities dealer opens an account in respect of a corporation, a copy of the part of official corporate records that contains any provision relating to the power to bind the corporation in respect of that account;

  • (c) where the securities dealer opens an account in the name of a person or of an entity other than a corporation, a record of the name and address of the client and

    • (i) if the client is a person, their date of birth and the nature of their principal business or their occupation, as applicable, and

    • (ii) if the client is an entity other than a corporation, the nature of their principal business;

  • (d) every new account application, confirmation of purchase or sale, guarantee, trade authorization, power of attorney and joint account agreement, and all correspondence that pertains to the operation of accounts, that the securities dealer creates in the normal course of business;

  • (e) a copy of every statement that the securities dealer sends to a client, if the information in the statement is not readily obtainable from other records that the securities dealer keeps and retains under these Regulations; and

  • (f) if the securities dealer obtains the approval referred to in subsection 67.1(1) or (2) to keep the account open, a record of

    • (i) the office or position and the organization or institution in respect of which the person is determined to be a politically exposed foreign person, a politically exposed domestic person, a head of an international organization or a family member of, or person who is closely associated with, one of those persons,

    • (ii) the date of the determination,

    • (iii) the source, if known, of the funds that are or are expected to be deposited in the account,

    • (iv) the name of the member of senior management who gave the approval, and

    • (v) the date of that approval.

  • SOR/2003-358, s. 6
  • SOR/2007-122, s. 33
  • SOR/2007-293, s. 13
  • SOR/2016-153, s. 27

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