KYC Framework
Boccard has developed a rigorous Know-Your-Client (KYC) framework in order to comply with regulations and guidelines set out in various jurisdictions, including in the European Union, the United States, Switzerland, and others.
Our KYC framework requires that the firm maintains an up-to-date database which contains at least four pieces of verified identifying information for each client, namely (a) name, (b) address, (c) date of birth, and (d) identification number.
As such, we require each client to provide us with two pieces of Proof of Identity and one piece of Proof of Address at the time of commencing their wealth management relationship with Boccard. Additionally, we also require each client to submit a Source of Wealth Declaration.
In the case of clients who are entities, we require individual KYC information for any natural person holding the office of director (in the case of limited companies) or manager (in the case of LLCs) as well as any natural person who beneficially owns 10% or more of the entity.
From time to time, we may require that clients’ KYC information be updated in order for us to ensure that our records are current.
This information is collected and retained for the purposes of complying with KYC regulations as per their stated purposes, i.e. to prevent the financing of terrorist activity and other financial crimes, including but not limited to money laundering.
We have strict protocols in place to prohibit disclosure of any or all of your KYC information to any third parties, including government agencies, for any other purpose.
In the event that we receive a request from a government agency for disclosure of client information, we will require them to produce supporting evidence to justify their request, including but not limited to a court order or warrant proving that their request is authorised by law. Even when such evidence is provided, we will take care to disclose only the specific information that is legally required.
