USA Patriot Act

 

Our Commitment to Money Laundering Prevention

Scarsdale Equities LLC is fully committed to complying with all statutory and regulatory requirements designed to combat money laundering and any activity which facilitates the funding of terrorist or criminal activities. The Firm also supports various global anti-money laundering efforts and initiatives.

Money Laundering Prevention Policies and Procedures

The Firm is committed to educating and training employees in money laundering prevention and has adopted specific policies and procedures to prevent and detect money laundering.

Some of the initiatives and procedures undertaken by Scarsdale Equities include:

  • the establishment of comprehensive money laundering prevention compliance programs;
  • the development of policies and procedures that meet applicable money laundering rules and regulations in all jurisdictions where Scarsdale Equities does business;
  • the development and utilization of technology to assist in the monitoring of transactions for the purpose of identifying and reporting suspicious activity and/or transactions;
  • the designation of money laundering prevention compliance officers to oversee the money laundering prevention efforts of the Firm; the establishment of screening procedures;
  • the establishment of an independent audit function to evaluate the Firm’s money laundering prevention program; and training employees to be aware of, and comply with, the Firm’s policies and procedures to prevent money laundering and other financial crimes, and to assist in the prevention of terrorist financing; and to recognize and report any suspicious activity and/or transactions.

What it means for you when you open an account with us:

To help the U.S. Government fight the funding of unlawful and money laundering activities, Federal law requires all U.S. financial institutions to obtain, verify and record information that identifies each individual or entity opening an account.

Scarsdale Equities is committed to complying with all statutory and regulatory requirements designed to assist the U.S. Government in combating money laundering and any activity which facilitates the funding of terrorist or criminal activities.
When you open an account with us, we will ask for your name, address, date of birth (for individuals) and an identification number:

  • For U.S. Citizens/U.S. Entities: this means a taxpayer identification number such as your social security number (SSN) or employer identification number (EIN);
  • For Non-U.S. Citizens/Non-U.S. Entities: this includes a taxpayer identification number or passport number and country of issuance; and government-issued identification number showing nationality, residence and your photograph.

We may also engage investigative surveys to verify your identity. This verification applies to both new accounts and when changes are made to existing accounts. Please be assured that this information and documentation will be treated with the highest regard to your personal privacy. You may be required to provide identification documents or other information as necessary to verify your identity, such as a passport or driver’s license, certified articles of incorporation, government issued business license, partnership agreement or trust agreement. In certain cases you may be required to provide a combination of information and documentation for individual and legal entities.

The U.S. Department of the Treasury, Securities and Exchange Commission (SEC), The Financial Industry Regulatory Authority (FINRA), and New York Stock Exchange (NYSE) rules already require you to provide most of this information. These existing rules also may require you to provide additional information, such as your net worth, annual income, occupation, employment information, investment experience and objectives, and risk tolerance.

What happens if you don’t provide the information requested or if your identity or the identity of your entity cannot be verified?

We are required to verify your identity. Until we have verified the information or documents requested, we may not be able to open an account or effect any transactions for you. If we have already opened an account for you, we may restrict trading or have to close it.

We thank you for your patience and hope that you will support the financial industry’s efforts to deny illegal activists and money launderers access to America’s financial system.

 

Back to “Legal Notices”