A set of policies and procedures SPV organizers and financial institutions use to verify the identity of an investor. It is a requirement to know and keep records on the essential facts of each investor, as well as identify each person who has authority to act on the customer’s behalf. SPV Organizers are only required to identify owners with 25% beneficial ownership at the time of account opening. RIA’s, broker-dealers, and banking institutions are required to identify all beneficial owners with at least 10% ownership and institute a KYC/AML policy.
Menu