A Registered Representative (RR) manages a general advisory account for a client. If the last full KYC update was performed 24 months ago, but the client recently won a significant lottery prize, what is the RR's obligation?

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Rule 3209(3) requires that if a Dealer Member becomes aware of a significant change in a client's information, they must update the KYC within a reasonable time, regardless of the periodic 36-month cycle.

A Registered Representative (RR) manages a general advisory account for a client. If the last full KYC update was performed 24 months ago, but the client recently won a significant lottery prize, what is the RR's obligation?

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