Securities dealers must have a compliance regime that includes:
- The appointment of a compliance officer for the securities dealer.
- Written policies and procedures describing, among other things, how the securities dealer will meet its obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
- An assessment of the risks of money laundering and terrorist financing, and measures to mitigate high risks identified for securities dealers.
- A training program on the securities dealers’ anti-money laundering obligations and the compliance program.
- A review of the effectiveness of the compliance program, training program and risk assessment for the securities dealers.