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  • On-going Monitoring

    • FC-2.2.10

      Investment firm licensees must take reasonable steps to:

      (a) Scrutinize transactions undertaken throughout the course of that relationship to ensure that transactions being conducted are consistent with the investment firm licensee's knowledge of the customer, their business risk and risk profile; and
      (b) Ensure that they receive and maintain up-to-date and relevant copies of the identification documents specified in Chapter FC-1, by undertaking reviews of existing records, particularly for higher risk categories of customers Investment firm licensees must require all customers to provide up-to-date identification documents in their standard terms and conditions of business.
      Amended: October 2017

    • FC-2.2.11

      Investment firm licensees must review and update their customer due diligence information at least every three years, particularly for higher risk categories of customers. If, upon performing such a review, copies of identification documents are more than 12 months out of date, the licensee must take steps to obtain updated copies as soon as possible.

      Amended: October 2017