LEGAL POLICIES

Know Your Client

Anti Money Laundering Policy

Money Laundering is the process whereby persons try to hide the origin and ownership of proceeds from illegal activity. Normally, money laundering can involve any transaction:

  1. Using funds derived from criminal activity; or
  2. Conducted to facilitate or conceal criminal activity.

Where you might be exploited by money launderers, as relates our Company and our internet based financial transactions, could be an instance where the Company would allow one deposit to be credited to another’s trading account. That account would then ostensibly can withdraw those funds and send to his/her own bank account, and report them as profits.

To avoid such abuse of the Company, our policy is not to allow the transfer of funds between different entities. For that, we implement KYC (“Know Your Client”) procedures.

Know Your Client Procedures

The customers of the Company are subdivided in two categories:

  1. Private Customers
  2. Corporate Customers

If the customer is a private person, the following documents must be collected:

  1. Full Name.
  2. ID number, and/or passport number (original or certified copies).
  3. Proof of residency – Copy of utility bill.
  4. Swift confirmation of the bank transfer.

The information of the bank account showed on the SWIFT must be identical to (a) and (b) above. Otherwise, the deposit will be immediately returned to the same bank account it came from without crediting the trading account.

Withdrawals must be made to the same bank account the money was originally deposited from and in the same currency.

If the originating bank account is closed, funds may be transferred to a different account of the same entity, in the same currency and into the same country the original deposit was made from.

If the customer is a corporation, the following documents must be collected:

  1. All statutory documents including certificate of incorporation, articles of organization (or association), bylaws and amendments to any of these.
  2. Details on the officers, directors and major shareholders (including ultimate beneficial owners).
  3. Powers of attorney for the persons authorized to interact with the Company and trade.

The information of the bank account showed on the SWIFT must be identical to (a) and (b) above. Otherwise, the deposit will be immediately returned to the same bank account it came from without crediting the trading account.

Withdrawals must be made to the same bank account the money was originally deposited from and in the same currency.

If the originating bank account is closed, funds may be transferred to a different account of the same entity, in the same currency and into the same country the original deposit was made from.

PRIVACY POLICY

Due to the nature of the Company’s business and relations with the Client, The Company shall hold some personal client information. All data collected, whether it be on paper or on a computer (including the use of cookies and similar features), is safeguarded in order to maintain the Client Privacy.

The Company shall be permitted to use and/or disclose the Client Information (a) For internal use, including with affiliated entities; (b) As permitted or required by law; (c) For protection against or prevention of actual or potential fraud or unauthorized transactions (d) For computerized supervision of his/her use of the services (including, without limitation, use of “cookies” and similar tools) and to use the information for review and/or supervision and/or development and/or maintenance of the quality of services, their availability and/or for the fulfilment of any instruction of any law. Without derogating from the aforesaid, the Company shall be permitted (e) to collect funds due (if they are due) to the Company from the user with respect to the services. The Client hereby grants the Company his/her permission to make use of his/her user details in order to provide updates and/or information and/or for publicity and/or for marketing purposes through his/her e-mail address. Cancellation of this consent shall be performed by providing written notice to the Company, and shall apply to new publications that have not been sent.

The Client agrees that the Company may record all conversations with the Client and monitor (and maintain a record of) all emails sent by or to the Company. All such records are the Company’s property and can be used by the Company, amongst other things, in the case of a dispute between the Company and the Client or for training purposes.

Affiliation – The Company may share commissions and charges with its associates, introducing brokers or other third parties or receive remuneration from them in respect of contracts entered into by the Company. Such affiliates of the Company may be disclosed with Clients information.

For any queries, please contact Compliance Department at compliance@fxmiso.com