KYC and Suitability

Account Appropriateness

The pre-suitability check on whether the client should open the account at all.

Definition

Under CIRO Rule 3401, before opening a new account, the dealer must assess whether the type of account (e.g., margin, options) is appropriate for the client given their KYC profile. This is a separate, earlier check than suitability — a margin account may be inappropriate even if every individual trade in it would be suitable.

Source

CIRO IDPC Rule 3401

Where this shows up on the CIRE

Outcome 1.20
Outcome 3.1

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