elections (1)

Elected Compliance

We received our reminder this morning regarding compliance reporting if you have a client who is an elected official.

If your a newly elected candiate you should let your advisor know of your change in status. This is a little thing that may get overlooked in the excitement of securing your position, however compliance is a serious matter and proper due dilegence is requried to ensure the integrity of our systems.

If this directly affected you, Congratulations !  If your a close friend to a candiate please let them know.

"With municipal elections completed, please review your client list for any clients that may have been elected to a seat of office. If you have a client who has been elected, you must report this information to our office as per FINTRAC regulation. "

An elected municipal official is considered a "Domestic Politically Exposed Person"

PEP for short.

The regulations also extend to members of the family of as well.

Glad to be of service

Timothy Ross


Read more…