We are required to comply with the Proceeds Of Crime Act (POCA) its Regulations, and it necessary under the provisions of POCA to verify the identity and permanent address of all new Clients.
If you are an individual you will need to provide proof of identity such as your current passport, driver’s licence or national identification card, your date and place of birth and evidence of your current address. Companies, Trusts or other entities will need to provide Certificate of Incorporation/Trust Deed/Probate and the most up to date copy of the Articles of Incorporation (if applicable) together with the names and addresses of all Company Directors/Trustees/Other representatives; the representative from whom we take instructions will be required to provide proof of identity, date and place of birth, evidence of current address and authority to act.
Under the provisions of POCA, you may also be requested to explain how you propose to finance a transaction and to provide verification of the source of your funds.
Due to the money laundering regulations, it is our policy not to accept large cash payments. This sum is prescribed from time to time. Therefore if you are required to make a payment above the prescribed amount, you must do so by cheque, bankers draft or electronic transfer from your account. We cannot accept payments from third parties.
Under the provisions of POCA, we are required to make a report to the relevant authorities if at any time we become aware of, or suspect the existence of the proceeds of crime in relation to any a transaction we are engaged in or in respect of the provision by us of any services. Our obligation in law to make such a report will, in certain circumstances, override our duty of broker/client confidentiality and we may not be permitted to inform you whether or not we have made, or intend to make, such a report.
We may terminate the provision of any services to you or refuse to carry out your instructions to purchase or sell shares if you fail to comply with your obligation to provide evidence of identity or if we suspect that you or any other party connected with you or with the transaction is involved in activities proscribed by POCA.