In accordance with Australian regulatory requirements, companies or entities that go through the KYC verification process require additional due diligence, as it is often the case that there are multiple parties involved in these entities and often are not transparent in information. To ensure we comply with KYC requirements, we must identify if there are any beneficial owners within the entity. This can include major shareholders (individuals that hold more than 25% of capital), owners, managers, directors, trustees, co-trustees, agents, etc.

If such beneficial owners are present, they will need to be verified with a primary document of identification and evidence of residential address; we do this in order to assess the level of risk they pose to your account and prevent illicit activities from being conducted by or via the registering organisation.

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