The NAAF And Know Your Client

The know-your-client (“KYC”) process is one of the most fundamental obligations under securities legislation and one of the most important elements of investor protection. It is designed to provide a basis for the suitability of advisor investment recommendations. The information is also used when assessing the validity of a client complaint. The KYC process commences with the completion of a New Account Application Form (NAAF) or New Client Application Form (NCAF). It is very...