AML
How would one add a Signing Officer to a Sole Proprietor business?
A Signing Office would be added by way of Power of Attorney
How many pages is the 822?
6
When do we need to obtain the RBC Product Consent?
The client’s express consent must be captured and evidence of the consent stored prior to providing the client with the ability to use their new product/service.
Which platforms can be used to create an MCA?
Sales Platform, MBA tool, Eforms, Digital Form Hub
When needing to send an escalation for a Commercial Client which platform will be used?
PEM.
-Pem is used for Commercial Escalations.
Service Now Incidents are used when escalating for Small Business Clients (amongst other requests such as Policy escalations)
Which forms are required by AML when opening an business profile and account?
60002 Master Client Agreement, 60004 Signature Card , 300466 RBC Product Consent, Registration Documents
Which form is required when opening a Formal Trust (Family Trust)
Form 822
For a political Candidate, which Special product Code must be used?
Special Product code 15
Can there be more that one Trade Name listed on the Signature Card?
Yes. There is no limit to how many Trade Names a Business can have.
Approvals are needed by who regarding opening Cannabis Related Businesses
Relationship managers will refer all CRBs identified above as requiring approval to National Office at g2policy@rbc.com.
What are the acceptable titles on a MCA for a corporation?
President, Vice-President, Secretary, Treasurer, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Principal or Director.
Who is required to sign the MCA for a Formal Trust (Family Trust) ?
All of the Trustees must sign the 822
Which two provinces have exceptions regarding Trade Name Registration?
Can the MCA/ Signature Card be signed via eSignlite?
Yes. However, the signature in the 60002 & Section A of the 60004 must be done with the cursive option.
What is the definition of a Trusteed Account?
The Trusteed Deposit Service (TDS) can be used to help the business client need to segregate funds it holds for another individual or entity.
What additional documents are required when opening a Foreign Corporation profile?
Legal opinion /40844
Foreign Corporation – Bank Reference Letter – eForm 40842 Eng (unknown to the branch, business centre or referring RBC business unit and is not related to an existing Business client relationship)
Which account package is used for a Lawyers trust account, and which account classification code does it require?
Business Current Account & Classification Code 91
What additional document is required when opening an Unregistered Partnership Business profile?
Acknowledgement of Partnership - Form 40778 Eng / 40779 Fr: if the client is an unregistered partnership and does not have a partnership agreement or trade name registration.
When completing the 60004 Signature Card, is Section D filled in, or left blank?
Blank. Section D is only to be filled when completing a manual change to an excising 60004 Signature card.
What is the Trust Tracker used for?
The Trust Tracker Application (TTA) captures and stores beneficiary and trustee data required by CDIC.
What are two types of acceptable documents that can be used as a secondary proof of existence if the business documents presented are older that 12 months?
Can a Professional Trust business be managed by the branch 199?
No, All Professional Trust businesses required to be managed by an account manager.
What are examples of an Exempt Entity for a Public Body ?
Public Bodies that are:
How to input the legal name on the MCA/ Signature card for a Federal Election Campaign?
for Federal election candidates, [name of official agent], Official Agent
What is the Business Structure Used when opening a business profile for A Political Candidate?
The business structure used for a Political Candidate is: Association