In light of recent technological advancements and in line with our commitment to meet regulatory audit requirements, we have implemented the necessary updates to our three New Account Application Forms (for intermediary/client-name, nominee and nominee TFSA accounts) and KYC Update Form. Below is a summary of the main changes.

New checkbox for global management of KYC
In the “Know Your Client” section, a new “Global Management” checkable box has been added above each of the three KYC profiles. For more information about global management, please refer to Administrative Procedure #65 – Global Management, which has also been updated to include this addition.

Risk capacity definition
We have revised the risk capacity definition by replacing the term “time horizon” with “life stage” to better align with a client’s current phase in life rather than a specific time frame.

E-delivery status
The e-delivery status consent question has been eliminated to prevent confusion. The process for document transmission and the necessity for clients to register for access on Investia’s Client Portal has been clearly outlined.

 
Trusted contact person (TCP)
National Instrument 31-103 mandates that the representative must obtain, and maintain current, the name and contact information of a TCP from the client(s), as well as get their written consent for the representative to contact the TCP. It is essential to complete this section for each account owner at account opening and KYC update.

Univeris has been updated to include the joint client trusted contact person categories where the account ownership is joint.

Banking information
The section for attaching a personalized void cheque has been removed and updated. As previously mentioned (ref. April 25, 2024 communication), it is mandatory to enter banking information into the system and upload the supporting banking documentation via the “Manage Banking Information” section on the Advisor Centre for dealer records. This requirement will ensure no delays in processing and continued observation of the Fundserv cheque removal policy. 

Availability of forms in Univeris
The updated forms will be available in Univeris starting tomorrow, Friday, November 22. We are taking this opportunity to remind you to always generate forms directly from Univeris to ensure you are using the latest versions with your clients.

Additional information 
Some of you may already know that we are in the process of redesigning the new client application forms and KYC Update Form to make them more client-friendly and easier to comprehend. These changes will also bring them in line with the form layouts used across the iA group of companies. Please keep an eye on the weekly communications for further updates.

Should you have any questions, please contact our Client Services Department, by email at investia@investia.ca, by phone at 1-888-684-5548, or by using the chatbot feature on the Advisor Centre.