Due Diligence Requirements
Saxo Capital Markets is required to comply with the MAS Notice SFA 04-N02 on Prevention of Money Laundering and Countering the Financing of Terrorism and the related guidelines. Saxo Capital Markets is therefore obliged to apply stringent due diligence measures whenever a new client applies for an account, which must at least include:
- Identifying the customer and verify identity based on documents, data or information obtained from a reliable and independent source.
- Identifying the beneficial owners where applicable
- Obtaining information on the intended purpose and nature of the business relationship.
- Monitoring the ongoing business relationship, including the transactions made, ensuring that documents, data and information held are kept up-to-date.