With today’s intense regulatory requirements and recent amendments to the Anti-Money Laundering & Counter Terrorism Financing Acts and with introduction of the PATRIOT Act, great responsibility is placed upon the Broker to ensure his ‘Know Your Client’ (KYC) information is correct and current.
Through our extensive verification and due diligence systems, we are able to offer independent Brokers a verification service on financial instruments and securities presented to them by their clients and associates. This ensures that the information presented to you is true, correct and current. We also provide you with background history and information concerning the documents presented, their history and use and correct protocols associated with such documents. We can also provide advice and guidance for placing the intended transaction.
It is vitally important that prior to presenting any financial instruments, documents or paperwork to bankers, lenders and traders that the presented documents are true, correct and current. Presenting wrong or false information to your financial sources may be damaging and cause untold repercussions upon the Broker. In some countries, presenting wrong or false information to banks and lenders may be a criminal offence to which the Broker is accountable.
To avoid this, ICS offers this service to Brokers exclusively, without any obligation or influence on the transaction, allowing our Brokers to present their clients and financial instruments to their own sources without our further involvement.
This service is offered on a discreet and confidential basis without any legal recourse to the Broker or Client.
If you would like to find out more about how our verification services may be useful to your brokerage, please feel free to contact us.