
Order PO-3307
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A customer complained that his investment firm's Know Your Client (KYC) form required an unreasonable amount of personal information, contrary to PIPEDA. The firm argued the information was necessary to comply with regulatory obligations set by the Investment Industry Regulatory Organization of Canada (IIROC). The OPC investigated whether the firm collected more information than necessary for legitimate purposes. Ultimately, the OPC found that the firm's collection of detailed financial and personal information, including spousal income and investment experience, was justified to meet IIROC's KYC and suitability requirements.

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