KYC top of mind for CSA

KYC top of mind for CSA

KYC top of mind for CSA The CSA is asking portfolio managers, exempt market dealers and other registrants to step up their game when it comes to knowing their clients and the products they're selling them.

The notice, published Thursday, outlines know-your-client (KYC) and know-your-product (KYP) obligations that registrants have to their clients and serves as a self-assessment tool that can be used to improve a registrant's systems, while promoting compliance and managing risk.

“The know-your-client (KYC), know-your-product (KYP) and suitability obligations are among the most fundamental obligations owed by registrants to their clients and are cornerstones of the Canadian investor protection regime,” said Bill Rice, chair of the CSA and chair and CEO of the Alberta Securities Commission, in a release. “We strongly encourage registrants to conduct a thorough review of their current practices in the context of the guidance published today in order to ensure compliance with these obligations.” (Continued on Page 2)


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