Securities Dealers
Streamline onboarding, beneficial ownership checks, and transaction monitoring—while staying compliant with your mandatory FINTRAC obligations under Canada’s PCMLTFA. Securities dealers operate in one of the most regulated sectors of the financial system, making proactive compliance essential.
Avoid regulatory risk, maintain investor confidence, and modernize your operations with a solution purpose-built for the securities industry.
Who Is It For?
under provincial law
Our platform helps you meet client due diligence, reporting, and recordkeeping obligations while aligning with evolving FINTRAC expectations.
Industry Overview
The Canadian securities sector is governed by both provincial securities legislation and federal AML obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Dealers and advisors must identify and verify clients, monitor for red flags, and report suspicious and large financial transactions.
FINTRAC’s scope for securities dealers includes compliance with identity verification, beneficial ownership documentation, politically exposed persons (PEPs) screening, and transaction-level reporting for electronic fund transfers and virtual currencies.
New Compliance Landscape: Bill C-2
Canada’s Bill C-2, currently under review in Parliament, introduces sweeping changes to AML laws, including:
Increased penalties
Up to $4 million per violation for individuals, and $20 million or more for corporate entities, based on global revenue.
Mandatory registration and renewal
Securities dealers must register with FINTRAC, keep their information updated, and renew their registration periodically.
Wider compliance scope
Enhanced due diligence expectations on international transfers, beneficial ownership, and cross-border clients.
Dealers must modernize their compliance programs now to reduce risk from future legislative shifts.
Common Challenges
Our Solutions
Collect and validate ID through digital forms and secure uploads.
Reduce manual checks with built-in logic.
Record layered corporate/shareholder structures.
Automated prompts for declarations when applicable.
Integrated with global watchlists and updated daily.
Alerts on behavioral changes or attempt to structure transactions.
Auto-fill from internal data, exportable to FINTRAC format.
Detect and submit all transactions exceeding $10,000.
Store all documents for minimum five years with access logs.
Ensure proper access controls for compliance teams.
Services Relevant to This Industry
Real-World Use Cases
Use Case 1: New high-net-worth client joins firm
System collects ID, flags PEP match, and auto-triggers enhanced due diligence.
Use Case 2: Unusual redemption activity below reporting thresholds
Detected as potential structuring; STR filed with FINTRAC through guided tool.
Use Case 3: Quarterly internal audit
All reports, IDs, declarations, and transaction logs exported in one step.
Frequently Asked Questions
Who qualifies as a securities dealer under FINTRAC?
Anyone authorized under provincial legislation to deal in securities or provide investment advice or portfolio management services.
What reporting obligations apply to securities dealers?
You must report suspicious transactions, large electronic funds transfers, and large virtual currency transactions.
What are beneficial ownership requirements?
You must identify individuals who control 25% or more of an entity. Our system guides you to collect this data efficiently.
How often should PEP screening be conducted?
At onboarding and on a regular basis during the client relationship, especially when there’s a change in risk profile.
How long should compliance records be retained?
A minimum of five years from the date of the last transaction or end of business relationship.
Getting Started
Empower your securities business with proactive compliance tools that align with FINTRAC and provincial regulators. Stay ahead of enforcement, protect your clients, and maintain your reputation.
Fill out the short contact form below or choose another convenient way to reach us.
Our team is ready to help you reduce risk and get compliant — fast.
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