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Before taking on any new customer, all banks in the UK are required by
law and the rules of the Financial Services Authority (FSA) to verify the
identity of the proposed new customer in accordance with a set of recognised
guidelines (the JMLSG Guidance Notes). Under these, the identity of a corporate
company comprises:
- Its registered number
- Its registered corporate name and any trading names used
- Its registered address and any principal trading address
- Its directors
- Its beneficial owners and shareholders, and
- The nature of its business
Accordingly,
your application to become an ANZ FX Online customer must be accompanied by all
of this information. If your shares, or the shares of a parent
company of which you are a wholly-owned or controlled subsidiary, are
listed on any recognised or approved stock exchange, we will
need to know which exchange and the name of your listed parent company (if any).
In those circumstances we will not normally need to verify the identities of
your beneficial owners or directors. However, in the absence of such
listing, we will need to verify the identity of your directors
and principal owners (ie, each person who beneficially owns more than 20% of
your voting shares, whether the shares are registered in their own names
or not), in accordance with the requirements for verifying personal
customers. The identity of an individual comprises his/her name and
address, each of which must be evidenced separately. The FSA website ( www.fsa.gov.uk/consumer/financial_faqs/
banking/mn_identity.html)
explains this requirement in more detail, but essentially it means that
your ANZ FX Online application will also have to be accompanied by the
following copy documents in respect of each of your directors and principal
owners:
- Passport, or
- UK driving licence, or
- UK Inland Revenue Tax Notification
AND
- A recent local council tax bill, or
- A recent utility bill (for a fixed service, ie not a mobile phone bill), or
- A recent UK bank or building society statement or passbook
Each copy document must be certified as "original
seen" by an
ANZ manager or one of the following in the UK: lawyer, banker, accountant,
teacher, doctor or minister of religion.
ANZ FX Online
is intended to be used for spot and forward foreign exchange transactions for
physical delivery, not for speculation or investment (eg,
currency futures, options or other derivatives). In any case, ANZ does not carry
out speculative or investment transactions with or for customers unless they, or
another member of their Group, satisfy the FSA's criteria for "intermediate
customers" (or they are "market counterparties"). This usually means that you,
or another member of your Group, has paid-up share capital or net assets
of more than £ 5 million. If you wish ANZ to consider treating you
as an "intermediate customer"for these purposes, your application must
also be accompanied by your (or your parent company's) most recent
audited accounts as evidence that you satisfy this threshold.
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