Series 14: 8.2.1. Customer Identification Program

8.2.1. Customer Identification Program

A broker-dealer must establish and maintain a written Customer Identification Program (CIP) as part of the government’s anti–money laundering compliance program. Anti–money laundering requirements are discussed in more detail later in this chapter. The CIP lays out the firm’s procedures for verifying the identities of new customers. The firm must use the name, address, date of birth, and Social Security number (or tax ID number) provided by the customer to independently verify the cus