Regulatory Alerts2011-02-16
Added · Updated
Policy Rule on Integrity in Commercial Real Estate Operations
This policy rule provides guidelines for institutions engaging in commercial real estate operations to ensure compliance with existing principle-based integrity legislation. It requires these institutions to implement adequate control measures, particularly regarding customer due diligence and acceptance, tailored to the specific integrity risks inherent in their activities. The rule clarifies that while it does not set new standards, institutions must address risks such as money laundering and fraud through measures proportional to the gravity and magnitude of the risk.