KYC and Suitability

Know Your Product (KYP)

The firm-and-individual obligation to understand every product the dealer offers.

Definition

KYP has two layers under CIRO Rule 3300 series: firm-level (the dealer must conduct product due diligence and approve a product shelf) and individual-level (each registrant must understand the products they recommend). KYP is a precondition for suitability — you cannot recommend what you do not understand.

Source

CIRO IDPC Rule 3300 series; CSA Notice 31-336

Where this shows up on the CIRE

Outcome 3.5

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