ARTICLE
26 September 2023

Pawsitive Updates To CIRO's AML Guidance

BL
Borden Ladner Gervais LLP

Contributor

BLG is a leading, national, full-service Canadian law firm focusing on business law, commercial litigation, and intellectual property solutions for our clients. BLG is one of the country’s largest law firms with more than 750 lawyers, intellectual property agents and other professionals in five cities across Canada.
On August 16, the Canadian Investment Regulatory Organization (CIRO) released updated guidance relating to anti-money laundering in GN-3200-23-001 (Guidance Note).
Canada Government, Public Sector

On August 16, the Canadian Investment Regulatory Organization (CIRO) released updated guidance relating to anti-money laundering in GN-3200-23-001 (Guidance Note). The updates to the previous guidance reflect changes in Canada's anti-money laundering and anti-terrorist financing laws since the guidance was last updated in 2019, as well as additional guidance available from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Updates in the Guidance Note also reflect the interim rules, CIRO's name and to clarify that the guidance applies to investment dealers (and not mutual fund dealers) only at this time. The Guidance Note specifically indicates however that CIRO is working on consolidating the IDPC's and Mutual Fund Dealer Rule's client due diligence, KYC and surveillance requirements, and developing consistent AML examinations for all CIRO Dealer Members, such that the Guidance Note will be revisited and likely amended again in future.

About BLG

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More