The Investment Dealers Association has published an anti-money laundering guide for dealers.

The IDA’s publication, Deterring Money Laundering Activity: A Guide for Investment Dealers, highlights the key elements for a Canadian investment dealer to consider in developing an effective anti-money laundering program.

It notes that this is a critical time in the development of anti-money laundering programs. Recent amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act 2001 and new regulations have added suspicious transaction reporting, expanded client identification procedures and required reporting of large cash transactions. Further additions and changes are to be implemented in the next year.

Given the importance of this subject matter, the Anti-Money Laundering Committee is publishing this guide in order to help firms implement or enhance their anti-money laundering programs.