Know Your Customer (KYC)

Know Your Customer (KYC)

Know Your Client (KYC) is a standard in the investment industry that makes sure advisors can confirm a client’s identity and know how much they know about investing and how much money they have. KYC has three parts: the customer identification program (CIP), which was required by the USA Patriot Act in 2001, customer due diligence (CDD), and ongoing monitoring of a customer’s account, also called enhanced due diligence (EDD).

The Know Your Client (KYC) rule is a code of ethics for people who work in the securities industry and deal with customers when opening accounts and keeping them up to date. It is used at the beginning of the relationship between the customer and the broker to find out the most important personal information about each customer before any financial advice is given. The customer is also told that they must follow all laws, rules, and regulations in the securities industry.

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This is my 15th year of growing my MOustache (aka “MO) with MOvember. I grow my MO to honor my father-in-law, who passed away from prostate cancer + to raise awareness and funds + to literally and figuratively change the face of men’s health. Movember is a fun approach to serious issues (testicular cancer for younger men + prostate cancer for older men + mental health for all of us), so I hope when you see our MOs that you will check yourself + remember to schedule your annual physicals + reach out if you need a friend.   #movember #menshealth #SouthBayMoBros