Amendments to the Client Identification and Verification rule now permit you to choose any suitable person to act as an agent. Previously, agents had to be individuals in occupations who...

If the individual is not physically present in Canada, and you are not meeting the individual in person, you must use an agent to verify their identity. You must have...

You may rely on an agent to verify the identity of an individual at any time. When using an agent, you must have an agreement or arrangement in writing for...

You have an obligation to verify your client’s identity. Failing to do so within the 30-day window would result in a breach of this requirement. Although you have 30 days...

When your client is an organization you should verify the client’s identity upon engaging in or giving instructions on their behalf to receive, pay or transfer funds, and must do...

In the case of an individual you must verify their identity upon engaging in or giving instructions on their behalf to receive, pay or transfer funds.

If despite reasonable efforts you are unable to obtain the information, you must then take reasonable measures to ascertain the identity of the most senior managing officer of the organization...

To confirm the accuracy of beneficial ownership and information on the ownership, control and structure of an organization you should refer to official documentation or records, such as: minute book...

The reasonable efforts standard requires you to apply sound, sensible judgment about the measures you take to identify beneficial owners. Reasonable efforts include searching through as many levels of information...

When your client, or a third party your client is representing, is an organization and the receipt, payment or transfer of funds is involved, you must obtain and record with...