The Desjardins Group has begun the implementation of the Know your client (KYC) procedure across all Desjardins Group reporting entities, including Group retirement savings.
This involves a periodic review of the personal information in the files of our members and clients who have non-registered products. The procedure, which will be rolled out in stages, meets the regulatory requirements for financial crime prevention and helps us maintain close relationships with our members and clients.
In Group retirement savings, the procedure will therefore target plan sponsors and plan members who have a
non-registered plan (NRP)), which is a regulated product under the anti-money laundering and anti-tax evasion laws. For entities, information on beneficial owners and persons who control the company will also need to be updated.
Over the next few months, we’ll be contacting affected plan sponsors and plan members to update the information in their files. Intermediaries will also be notified before their clients’ files are updated.
The protection of personal information is a priority for Desjardins. Plan sponsors and plan members who have several products with us may be contacted by more than one Desjardins Group entity. It’s important to update information with each entity that requests it.
If you have any questions, we invite you to contact us at