On April 10th, a Dealer Member opens an account for a new corporate client. The Dealer identifies the beneficial owner but fails to receive the necessary documentation to establish her identity. It is now May 15th. What specific actions are permitted in the client's account until the identity is established?

Question

Accepted Answer

As more than 30 days have passed since the account opening without identity establishment, CIRO Rule 3206 requires the account be restricted. Permitted actions include liquidating trades (selling), paying out funds, and transferring out assets.

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