CIRO Compliance Guide
Plain-language guide to CIRO documentation requirements for Canadian financial advisors. 5 chapters: KYC, suitability, retention, and AI tools.
Who this guide is for
This guide is written for individual advisors at CIRO-regulated dealers: the registered representatives and investment advisors at investment dealers and mutual fund dealers who hold client relationships and make recommendations. Compliance teams, supervisors, and firm-level obligations are outside its scope.
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Why does documentation matter for CIRO compliance?
The Client Focused Reforms changed the documentation landscape for individual advisors. Learn why principles-based requirements mean more responsibility, not less.
3 min read - 2
What are the KYC documentation requirements?
Know Your Client documentation forms the foundation of your compliance obligations. Learn about required elements, risk tolerance vs. capacity, and the reasonability review.
3 min read - 3
What is suitability documentation?
Suitability documentation connects your KYC information to your recommendations. Learn the memo format, alternatives consideration, and individualized analysis requirements.
3 min read - 4
What are the client records and retention requirements?
Record retention requirements are straightforward but often misunderstood. Learn what counts as books and records, the 7-year rule, format requirements, and common mistakes.
3 min read - 5
Evaluating AI Tools for CIRO Compliance
How to evaluate AI tools for CIRO compliance. Covers shadow AI risk, a four-criteria framework, data handling questions, and what approved tools look like.
3 min read