Archive: Sep 2014

MFDA publishes sample investor questionnaire to assist with KYC process

19th Sep 2014

IFB Staff

MFDA publishes sample investor questionnaire to assist with KYC process

In July 2014, the MFDA published a “Discussion Paper on the use of Investor Questionnaires” to help with the KYC process, including a sample investor questionnaire to guide and document this discussion with clients.  Use of the questionnaire is not mandatory and your dealer may have adopted a different or similar questionnaire. The MFDA notes: The know-your-client (“KYC”) process is one of the most fundamental obligations under securities legislation and one of the most important elements of investor protection. However, the process can be challenging for both clients and Approved Persons. Investors may not always understand the industry terminology used on KYC forms and research reveals that many investors do not understand the relationship between risk and return.  Approved Persons […]

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