What Documents Are Required When Opening a New Account

When opening a new account, the following documents and agreements are mandatory to ensure regulatory compliance and proper account setup:

NCAF

• The NCAF is a formal application required to open a new investment account with NBIN. It gathers key client details, investment objectives, financial information, and account preferences.
• It is required to establish the account with the custodian, ensure regulatory compliance (including KYC and AML), and enable the proper setup of trading, transfers, and account servicing functions.

Valid ID

• A Valid Government Issued Photo ID is required to verify the client’s identity. This is essential for regulatory compliance with anti-money laundering (AML) and “Know Your Client” (KYC) rules, helping to protect both the client and the firm from fraud and financial crime.

Banking Information

• Banking Information includes the client’s bank account details or a void cheque which are required to facilitate deposits, withdrawals, and transfers between the client’s investment accounts and their personal bank accounts.

Client Information Form (CIF)

• The Client Information Form (CIF) is an internal document that collects essential personal, financial, and investment information about the client.
• It is required to understand the client’s financial situation, investment objectives, risk tolerance, and to meet regulatory “Know Your Client” (KYC) obligations.

Portfolio Management Agreement

• The Portfolio Management Agreement is a legal agreement between the client and the portfolio manager that outlines the terms under which the portfolio will be managed, including authority granted, responsibilities, and fee structures.
• It is required to ensure both parties are clear on the scope and terms of the relationship. This document is included as part of the Client Information Form (CIF).

Conflicts of Interest Brochure

• The Conflict of Interest Brochure explains situations where conflicts of interest may arise and how the firm addresses them. 
• It is required by regulation to ensure full transparency and to protect clients by making them aware of potential conflicts. This document is included as part of the Client Information Form (CIF).

Relationship Disclosure Information

• The Relationship Disclosure Information outlines the nature of the relationship between the client and the firm, the services provided, fees, risks, and the roles of each party.
• It is required to ensure clients are fully informed about how their relationship with the firm will work. This document is included as part of the Client Information Form (CIF).

Fund Disclosure Document

• The Fund Disclosure Document provides detailed information about the investment funds offered, including objectives, strategies, risks, and fees.
• It is required to ensure clients understand what they are investing in and the associated risks and costs. This document is included as part of the Client Information Form (CIF).

Fee Disclosure Document

• The Fee Disclosure Agreement outlines all fees and charges associated with the client’s account, including portfolio management fees, fund management fees, custodial fees, and any other applicable costs.
• It is required to ensure full transparency, helping clients understand exactly how much they will pay for services and investments. This document is included as part of the Client Information Form (CIF).

Additional Documents When Opening an Entity Account

When opening an entity account there are four different types. corporations, partnership, Trusts, and Charitable Organizations. You are required to provide the Articles of Incorporation and any other relevant entity documents. 

• Corporations: Articles of Incorporation plus corporate resolutions, bylaws, and beneficial ownership documents.
• Partnerships: Partnership Agreement and partnership registration certificate.
• Trusts: Trust Agreement (Declaration or Deed of Trust), Certificate of Trust, and trustee authorization.
• Charitable Organizations: Articles of Incorporation (or formation), charitable registration documentation, and governance documents (bylaws, constitution).