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  • Information and Communication

    • BC-2.5.2

      Investment firm licensees must seek information from their retail clients (and potential retail clients) about their needs, circumstances and investment objectives (including their risk appetite), relevant to the services to be provided.

      Amended: January 2007

    • BC-2.5.3

      For the purposes of Rule BC-2.5.2, the investment firm licensee, when providing the regulated investment services, should ask the client or potential client to provide information regarding his knowledge and experience in the investment field relevant to the specific type of financial instrument or service offered or demanded so as to enable the licensee to assess whether the financial instrument or service is appropriate to the client. The evaluation of the client's needs, circumstances and investment objectives (including risk appetite) can be done through a structured questionnaire.

    • BC-2.5.4

      For the purposes of satisfying the requirement under Rule BC-2.5.2, investment firm licensees must ensure that the information and facts they hold about their clients are accurate, complete and up to date.

    • BC-2.5.5

      Where an investment firm licensee is managing financial instruments for a client, it must assess whether the client's portfolio or account remains suitable over the lifetime of the client relationship and advise the client if it is no longer suitable.

    • BC-2.5.6

      Where an investment firm licensee has pooled a client's assets with those of others, with a view to taking common discretionary management decisions, the investment firm licensee must take reasonable steps to ensure that the transaction is suitable for the related clients having regard to their stated investment objectives.