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AML-2.2.10

Capital Market 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 capital market 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 AML-1, by undertaking reviews of existing records, particularly for higher risk categories of customers. Capital Market Licensees must require all customers to provide up-to-date identification documents in their standard terms and conditions of business.
Amended: January 2022
Amended: October 2017
Added: October 2010