Know Your Client (KYC): The mandatory client-information collection rule under CIRO IDPC Rule 3402.

Know Your Client (KYC)

The mandatory client-information collection rule under CIRO IDPC Rule 3402.

Definition

KYC requires registrants to collect and document a client's personal circumstances, financial circumstances, investment knowledge and experience, investment objectives, time horizon, risk profile (the lower of risk tolerance and risk capacity), and any non-financial constraints. KYC must be refreshed on material changes and at least annually for managed accounts.

Source

CIRO IDPC Rule 3402; NI 31-103 s.13.2; CSA Notice 31-336

Where this shows up on the CIRE

Outcome 3.1
Outcome 3.2
Outcome 3.3

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