A Registered Representative is reviewing the corporate profile of "Alpha Global," a public corporation with $80 million in net assets. The company is traded on the TSX but operates primarily in a jurisdiction that is not a member of the Financial Action Task Force (FATF). Does this entity qualify for an identification exception under CIRO Rule 3207?

Question

Accepted Answer

Under Rule 3207(1)(vii), a corporation must meet three tests for the exception: $75M+ net assets, shares traded on a designated exchange, and operation in an FATF member country. Since "Alpha Global" operates in a non-FATF country, it fails the third test.

Discussion