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Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

Version of section 57.1 from 2008-06-23 to 2017-06-16:

  •  (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
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