31-368 - Client Focused Reforms: Review of Registrants’ Know Your Client, Know Your Product and Suitability Determination Practices and Additional Guidance

31-368 - Client Focused Reforms: Review of Registrants’ Know Your Client, Know Your Product and Suitability Determination Practices and Additional Guidance

• National Notice 31-368 Client Focused Reforms: Review of Registrants’ Know Your Client, Know Your Product and Suitability Determination Practices and Additional Guidance

  Effective Date: December 10, 2025

  This Notice summarizes the findings of the Canadian Securities Administrators' (CSA) and Canadian Investment Regulatory Organization's (CIRO) (together Staff) review of firms’ know your client, know your product and suitability determination practices, and provides additional Staff guidance to securities advisers, dealers and representatives for compliance with these requirements, as set out in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and Companion Policy 31-103CP Registration Requirements, Exemptions and Ongoing Registrant Obligations, and corresponding CIRO member rules and guidance.

  More information is found in the Joint Notice.

  31_368_client_focused_reforms_december_10_2025.pdf