At any point during the course of your offer you can view and manage any applications which have been submitted by investors and verify their identity (if you set this up as a requirement when setting up your offer):
Verifying investors using greenID
Individuals
- Rule Set N (“Safe Harbour”) provides three alternative sets of requirements, each of which complies with the electronic “safe harbour” provisions, defined in Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Rules). This is an example of a “combination” rule set, in which any one set of criteria, of the alternative sets offered, may be met for the overall verification to be successful.
- This also includes a watch list service for individuals. Watch lists contain the names of known criminals, sanctioned individuals, politically exposed persons (PEP) or other high risk individuals. Screening your applicants against watch lists can help you comply with regulatory requirements or simply give you extra assurance about who your customers are. The Premium Dow Jones Watch List Service searches data gleaned from more than 1,000 watch lists and provides additional profile information compiled by the Dow Jones Risk and Compliance team.
- From the menu, go to Offers and then click the sub-menu item Offers & Applications.
- Click on the Title of the Offer you wish to manage.
- You will see a list of Applications. Each application will have a unique ID, details of when the application was Received, Investor Name and other important information.
- Select the Investor to go to the Offer application page.
- In the Application details section, click Verify with GreenID. Note: this will request a database check for the investors and will incur an additional charge. Please contact us if you require more information regarding the fees.
- If for some reason GreenID can't verify the investors you can request additional information, e.g. certified documentation (if this is acceptable under your AML/CTF guidelines), and attach it to the investor's application. Please note the details of the investor identity documents exactly, e.g. if a middle name is included on their identity documents it needs to be included in their application to pass GreenID's electronic verification.
- You can then click the check box for I am satisfied that this individual complies with our AML/CTF standards.
Companies
- You can verify a company using the GreenID company database.
- You can verify the directors and the major beneficial owners of companies by following the steps above.
Superfunds and trusts:
- You can verify the individual trustees (if applicable) by following the steps above.
- You can verify a corporate trustee (if applicable) using the GreenID company database.
- You can verify the beneficial owners of Superfunds and trusts by following the steps above.
- You can verify directors and the major beneficial owners of the corporate trustees (if applicable) by following the steps above.
- You can verify the existence of Superfunds using our Superfund lookup (Free).
Verifying investors by approving documents:
- From the menu, go to Offers and then click the sub-menu item Offers & Applications.
- Click on the Title of the Offer you wish to manage to go to the Offer summary page.
- You will see a list of Applications. Each application will have a unique ID, details of when the application was Received, Investor Name and other important information.
- Select the Investor to go to the Offer application page.
- In the Application details section, you can review the documents and click the checkbox This document has been verified once you are happy the documents meet your AML/CTF guidelines.
Note: Please always ensure you are meeting the AML/CTF guidelines as set out in the offer document, Information Memorandum etc.