Holders have a range of verification and tax statuses indicating their level of compliance to issuer and regulatory standards. These include wholesale client/sophisticated investor, tax status, identity, PEP, source of wealth and AML risk. The holder statuses are indicated in the header of the holder details page. Each has a coloured dot representing the current status. Green indicates a positive status that has been verified. Orange or red are warning indicators where a verification has failed. Grey indicates that no verification attempt has been made. Generally the holder status is determined by the status of the contacts that make up the holder.
You can get a client-wide overview of the verification status of all your contacts in the client centre AML/CTF verification centre.
To manage a holder’s statuses first navigate to the holder you are looking for. You can find the holder either from the search feature, cap table or investor list, and click on their name to access the Holder details page.
To manage a particular status refer to its section below:
Sophisticated Investor
The sophisticated investor status for the holder is determined by the sophisticated investor status of each contact associated with the holder, and the sophisticated investor default settings from the issuer profile. You can override the system-determined status for an individual holder by clicking on the sophisticated investor indicator, then clicking Override sophisticated investor status. For more information see Setting Sophisticated Investor Status.
Tax Status
The tax status for a holder is determined by whether the tax details of relevant contacts associated with the holder are sufficiently quoted. Clicking the Tax status indicator will take you to the Tax details tab of the holder details, where you can see a summary of the tax information supplied by the contacts associated with the holder. From here, to update a contact’s tax information, click on the contact’s name to go to their contact detail page. In the Tax details section of the contact details page, click Edit to update their tax details.
Depending on the amount of information you add, this will change the tax status displayed for the holder. For more information about what is needed to reach a specific tax status see Tax Statuses.
Source of wealth
The Source of wealth status for the holder is determined by the Source of wealth status for contacts associated with the holder who have the role of beneficial owner.
Clicking on the indicator will display a list of the beneficial owner contacts and their source of wealth status. To update a contact’s source of wealth, click on their name in the list to go to their contact detail page. The source of wealth status can be edited in the Verification section of the contact detail page. For more information on setting a contact’s Source of wealth see this article.
Identity
The identity status for the holder is determined by the identity status for the relevant contacts associated with the holder.
Clicking on the indicator will display a list of contacts and their Identity statuses. To update a contact’s identity status, click on their name in the list to go to their contact detail page. The identity status can be edited in the Verification section of the contact detail page. For more information on setting a contact’s Identity status see this article.
PEP
The Politically Exposed Person (PEP) status for the holder is determined by the PEP and sanctions watchlist status for the relevant individual contacts associated with the holder.
Clicking on the indicator will display a list of contacts and their PEP statuses. To update a contact’s identity status, click on their name in the list to go to their contact detail page. The PEP and sanctions watchlist status can be edited in the Verification section of the contact detail page. For more information on setting a contact’s PEP and sanctions watchlist status see this article.
AML risk rating
The AML risk rating is a holder status only, and is managed from the holder details page. Once you have completed AML/CTF checks on a holder’s associated contacts you can set the AML risk status:
- Click the AML Risk status or navigate to the last tab for investor details labeled AML risk rating.
- Click Add new risk rating.
- Complete the New risk rating form and click Add rating.
- Select a risk rating.
- Enter a Next review date (optional). This date can be displayed in the All holdings table by enabling the Next review date column.
- You may add a note and upload a file.
- Click Add rating. The rating will be displayed in the AML risk indicator.