Solo agents get AML Screening on by default. Brokerages have to formally activate compliance before any agents can run screenings. This is your one-time setup.
Why Brokerages Need To Activate Compliance
A brokerage compliance program is more than just running screenings on clients. FINTRAC expects you to have:
- A named compliance officer.
- A set of written policies and procedures.
- A risk assessment of your brokerage's activities.
- An ongoing screening plan for your clients.
Activating compliance in BrokerPlus formalizes all of this. Until you do, screening isn't available to your agents and you're not building the compliance record FINTRAC will eventually want to see.
Opening The Setup Wizard
- Go to Brokerage > Compliance.
- You'll see a banner: Activate Compliance Program.
- Click Get Started to open the setup wizard.
What The Wizard Covers
The wizard walks you through (in this order):
1. Assigning A Compliance Officer
Name the person responsible for the compliance program. In a small brokerage, that's usually the principal broker. In a larger brokerage, it might be someone else.
The compliance officer's contact info goes into your written policies and surfaces in FINTRAC reporting.
2. Uploading Written Policies
You can either:
- Upload your existing policies (PDF or DOCX) if you already have them drafted.
- Use our template as a starting point and customize.
These are your formal compliance procedures. Keep them current.
3. Configuring Screening Plans
Decide your brokerage's standing screening posture:
- Default risk level for new clients (typically Low).
- Re-screening cadence for each risk level (you can adjust the standard 1/2/3 year cadence if your policies require something stricter).
- PEP attestation requirements.
4. Activating
Confirm everything and activate. Your agents can now run screenings on their clients. The Compliance tab in the sidebar becomes active across the brokerage.
After Activation
Once activated, the next step is bringing your existing book into the compliance fold. Most brokerages activate compliance after they've already imported clients - those clients need to be screened too.
For the walkthrough: Bringing Existing Clients Into Compliance (Walkthrough).
Editing The Program Later
You can update any aspect of your compliance program from Brokerage > Compliance:
- Reassign the compliance officer.
- Upload new policies.
- Change re-screening cadences.
Changes apply going forward; past screenings aren't re-evaluated.
What To Do Next
- Bring existing clients into screening: Bringing Existing Clients Into Compliance (Walkthrough).
- Understand the day-to-day screening workflow: What AML Screening Does.