OBJECTIVE

The objective of this policy is to protect itself from the increasing risk of organized criminal activity, money laundering, terrorist financing, drug trafficking, and other illegal trades at Reign Capital Limited (hereafter referred to as “Reign Capital” or “RC”).

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What is KYC?

Know Your Customer (hereafter referred to as “KYC”) is the method of Due Diligence (DD) that financial institutions perform to identify their customers and ascertain relevant information required for doing business with them. KYC involves but does not limit to:

 

▪ Seeking evidence of identity and address from the customer, then independently confirm the evidence, before formally starting a relationship with a Company

▪ Seeking information regarding the customer’s sources of income and nature of business, to avoid accepting illicit financial flows, typically illegally acquired, transferred, or spent across borders.

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Note: A customer can be defined as a person or an entity that applies for or maintains an investor account with a company.

 

Elements of the KYC Policy

The following elements have been incorporated into Reign Capital’s KYC Policy:

▪ Customer acceptance criteria

▪ Monitoring & reporting

▪ Risk Management

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1. Customer Acceptance Criteria:

Reign Capital shall accept investors strictly in accordance with the following criteria:

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▪ No investor account shall be opened in the name of a person who fails to disclose his/her identity or fails to provide a valid identity document. To authenticate the identity of the new investor, a copy of the Passport shall be obtained before account opening.

▪ Source of income shall be essentially disclosed by the investor.

▪ In case the source of the investor’s income is business and/or employment, the name of the business and employer shall also be appropriately disclosed.

▪ In the case of Government accounts, it should be ensured that no accounts are opened in the personal names of government officials and/or PEPs.

▪ The Official engaged at the customer level shall ensure that all documentary pieces of evidence and information provided by the investor are complete and consistent.

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2. Monitoring and Reporting:

Continuous monitoring is an essential ingredient of effective KYC procedures, and the extent of monitoring should be according to the risk sensitivity of the account. The following is an indicative list of suspicious transactions:

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▪ Transactions that do not make economic sense

▪ Certain suspicious funds transfer activities

▪ Third Party incoming payments

▪ Unusual activities

▪ Cash transactions

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3. Risk Management

From the company’s point of view, the risk associated with an investor account shall be graded as High / Low Risk on the following basis:

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▪ Low-Risk Investors

Individuals whose identities and sources of wealth can be easily identified shall be considered as low risk. In such cases, only the basic requirements of verifying the identity & location of the investor shall be met.

▪ High-Risk Investors

Enhanced Due Diligence (EDD) measures shall be exercised for high-risk investors, especially those for whom the sources of funds are not clear.

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Contact Us

Should you have any questions with regards to this anti-spam policy, please do contact us via email at: info@reigncapital.co.uk.

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Last updated: 07 May 2022

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