Regulatory Alerts2019-01-04
Added · Updated
Notice on the Sale of Investment Products
Licensed persons and exempt financial institutions must conduct Customer Account Reviews for listed specified investment products and Customer Knowledge Assessments for unlisted specified investment products before opening accounts or allowing transactions for non-accredited individual customers. Senior management must approve account openings or transactions, ensuring customers possess the requisite knowledge and experience, with specific written disclosures required if assessments indicate a lack of such knowledge. The validity of these assessments expires after three years unless the customer has transacted more than once in the preceding period or a new review is conducted.
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