New guidance from the Investment Industry Regulatory Organization of Canada (IIROC) confirms that investment firms can use electronic signatures with clients.
According to the guidance, IIROC indicates firms may choose the form of signature — wet signatures or e-signatures — that they will require or accept when it comes to client agreements, contracts and consents. Whichever option they select, firms must have proper policies and procedures (P&Ps) in place to meet IIROC’s signature requirements.
The updated guidance allows investment firms to adopt digital solutions in their businesses for more-streamlined processes for their investors. This will power firms to simplify complicated subscription processes, eliminate repetitive tasks and save time.
“IIROC recognizes the importance of facilitating innovation and is committed to providing guidance that makes it easier for firms and Canadian investors to make the best use of technology,” said Andrew Kriegler, president and CEO of IIROC, in a statement.
Obsidian SmartDocs is a leading digital subscription and KYC sign-off solution designed for investment managers. With SmartDocs you can automatically generate subscription documents and KYC forms with e-signature sign-off. This helps firms eliminate errors & omissions, cut processing times, and simplify compliance. All data from every document is stored separately in a secure KYC vault helping you stay onside with the regulators by providing automated KYC reminders.
Obsidian SmartDocs is the only digital subscription solution approved by AIMA.
To learn more about the benefits of SmartDocs schedule a free demo.
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