Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

23 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) where it has obtained approval under paragraph 67.1(1)(b) to keep the account of a person that has been determined to be a politically exposed foreign person open

  • (i) the office or position in respect of which the person was determined to be a politically exposed foreign person,

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

  • (iii) the date of the determination that the person was a politically exposed foreign person,

  • (iv) the name of the member of senior management who gave the approval to keep the account open, and

  • (v) the date of that approval.