Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (SOR/2002-184)

Regulations are current to 2014-09-15 and last amended on 2014-01-31. Previous Versions

 If, as a result of its ongoing monitoring of a business relationship under paragraph 56.3(a), the life insurance company or life insurance broker or agent considers that the risk of a money laundering offence or terrorist activity financing offence is high, it shall treat that person or entity as high risk for the purpose of subsection 9.6(3) of the Act and apply the prescribed special measures in accordance with section 71.1 of these Regulations.

  • SOR/2013-15, s. 7.

Securities Dealers

  •  (1) Subject to section 62 and subsection 63(1), every securities dealer shall ascertain, in accordance with subsection 64(1), the identity of every person who is authorized to give instructions in respect of an account for which a record must be kept by the securities dealer under subsection 23(1).

  • (2) [Repealed, SOR/2007-122, s. 54]

  • (3) Subject to section 62 and subsections 63(2) and (4), every securities dealer shall, in accordance with section 65, confirm the existence of and ascertain the name and address of every corporation for which it opens an account and the names of the corporation’s directors.

  • (4) Subject to section 62 and subsection 63(3), every securities dealer shall, in accordance with section 66, confirm the existence of every entity, other than a corporation, for which it opens an account.

  • (5) [Repealed, SOR/2007-122, s. 54]

  • SOR/2003-358, s. 14;
  • SOR/2007-122, s. 54.
  •  (1) Subject to section 62 and subsection 63(5), every securities dealer shall, in accordance with subsection 67.1(2), take reasonable measures to determine if the person for whom the securities dealer opens an account is a politically exposed foreign person.

  • (2) Subject to section 62 and subsection 63(5), every securities dealer shall take reasonable measures, based on the level of the risk referred to in subsection 9.6(2) of the Act, to determine whether a person who is an existing account holder is a politically exposed foreign person.

  • SOR/2007-122, s. 55.

 Any securities dealer that is required to ascertain the identity of any person or confirm the existence of any entity in accordance with section 57 shall

  • (a) conduct ongoing monitoring of its business relationship with that person or entity; and

  • (b) keep a record of the measures taken and the information obtained under paragraph (a).

  • SOR/2013-15, s. 8.

 If, as a result of its ongoing monitoring of a business relationship under paragraph 57.2(a), the securities dealer considers that the risk of a money laundering offence or terrorist activity financing offence is high, it shall treat that person or entity as high risk for the purpose of subsection 9.6(3) of the Act and apply the prescribed special measures in accordance with section 71.1 of these Regulations.

  • SOR/2013-15, s. 8.