AB Corporate Client Due Diligence

For private companies, you must obtain and verify:

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• the name and company number; and

• the address of the registered office and principal place of business

 

[You must take reasonable measures to determine and verify the full names of the board of directors (or equivalent management body) and senior persons responsible for its operations].

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[You may verify and/or obtain this information from Companies House].

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We should seek to understand the nature of the client's business as this will assist us in identifying unusual requests or transactions.

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We should identify and verify the identity the beneficial owners, that is individual who:

 

• exercises ultimate control over the management of the company;

• directly/indirectly ultimately owns or controls more than 25% of the shares or voting rights;

• controls the company.

 

This will require not only an understanding of the constitutional documents but also any shareholders' agreement or the like applicable to the company. 

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Please note we have a duty to report any discrepancies between any information provided to us regarding beneficial ownership and that held by Companies House.