What information must be gathered from a client when opening a UITF account?

When opening a UITF account, it is crucial to gather comprehensive client information along with a customer suitability statement. This ensures that the financial institution has a clear understanding of the client's financial situation, investment objectives, risk tolerance, and overall suitability for the particular Fund.

Collecting detailed client information, such as income, investment experience, goals, and personal circumstances, allows the financial institution to assess whether the UITF aligns with the client's needs and objectives. Additionally, the suitability statement is essential for compliance and helps ensure that the client is aware of the risks associated with their investment, thus promoting informed decision-making.

Other options do not offer a full picture of what is needed. Solely gathering personal identification lacks the depth required for thorough client profiling. Focusing only on the client's financial history ignores essential factors like risk tolerance and current investment objectives. The mention of investment risks is also insufficient on its own; while understanding risks is vital, it is only one component of the comprehensive assessment required when establishing a UITF account.