You missed these communications while you were on vacation this summer? Here are two initiatives released by our Compliance team last June and July to facilitate your day-to-day activities.
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Global Client Management
For those of you who may not know, a new global client management initiative was launched on July 18, 2024 (ref. Launch of Global Management memo).
In a nutshell, global management provides you with a new way to manage your client’s plans upon performing their KYC suitability review and subsequent updates, with the aim of increasing efficiency and improving your practice. It allows you to combine plans that share the same eligibility criteria (i.e., same intended use, for individual accounts only, etc.) so that you can manage the client’s assets globally in a more holistic approach.
Global management client identification
Did you know? Since August 8, global management clients are identified in the system via a question which was integrated into the client’s “KYC” section, instead of via the (*) symbol:
Support materials
Click on the following links to access reference materials about client global management:
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Automated KYC Update Tool
Have you started using it yet? Launched on June 27, 2024, our Automated KYC Update Tool allows clients to review their KYC profile easily, quickly and securely through their Client Portal, and Representatives to approve the KYC much more efficiently.
- If there is no material change to the client’s KYC on file: the tool lets you approve it quickly.
- In the event of a material change: you’ll be able to update the KYC much faster because you won’t have to follow some of the extra steps in the standard process. At the time of the conversation with your client, simply validate the material change instead of repeating the entire data collection process.
Joint rep code
Did you know? Since August 1, your clients under a joint code are also eligible for automated KYC updates, provided they meet the other eligibility criteria.
For more information
Check out these useful resources for everything you need to know about our already very popular tool!
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Should you have any questions, please do not hesitate to contact your Compliance Officer.