Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

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

• (a) in respect of every account that the securities dealer opens, a signature card, an account operating agreement or an account application that

  • (i) bears the signature of the person who is authorized to give instructions in respect of the account, and

  • (ii) sets out the account number, where that person’s identity was ascertained pursuant to subparagraph 64(1)(c)(ii);

• (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 and the nature of the principal business or occupation of the person or entity, as the case may be;

• (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; and

• (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.

(2) Paragraph (1)(a) does not apply in respect of an account in the name of, or in respect of which instructions are authorized to be given by, a financial entity or another securities dealer.