Anti-Money Laundering / Know Your Customer

IBR-GLOBAL MARKETS LTD Anti-Money Laundering and Know Your Customer Policy (hereinafter – the “IBR-Global Markets Ltd”) is designated to prevent and mitigate possible risks of IBR-GLOBAL MARKETS LTD being involved in any kind of illegal activity. Both international and local regulations require IBR-GLOBAL MARKETS LTD to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Users.

Anyone who intend to do business with IBR-GLOBAL MARKETS LTD has to register and pass the registration process. Client who has registered and passed our AML/KYC requirements will be issued a one-time Unique Identification Number (UIN), and this will be used anytime the client is transacting with us.Kindly click below to fill the AML/KYC application form. Forms are available for both individual and corporate body.

REQUIRED DOCUMENTS & INSTRUCTIONS

  1. Self-attested copy of PAN card for all clients.
  2. Copies of all document submitted by applicant should be self-attested and accompanied by originals for verification. In case the original of any document is not produced for verification, then the copies should properly attested by entities authorized for attesting the documents, as per the below mentioned list.
  3. If any proof or address is in a foreign language, then translation into English is required.
  4. Name & address of the applicant mentioned on the KYC form, should match with the documentary proof submitted.
  5. If correspondence & permanent address are different, then proofs for both have to be submitted.
  6. Sole proprietor must take the application in his individual name & capacity.
  7. For non-residents and foreign nationals, (allowed to trade subject to RBI and FEMA guidelines), copy of passport / PIO Card / OCI Card and overseas address proof is mandatory.
  8. For foreign entities, CIN is optional; and in the absence of DIN no. for the directors, their passport copy should be given.
  9. In case of Merchant Navy NRI’s, Mariner’s declaration or certified copy of CDC (Continuous Discharge Certificate) is to be submitted.
  10. For opening an account with Depository participant or Mutual Fund, for a minor, photocopy of the School Leaving Certificate / Mark sheet issued by Higher Secondary Board/Passport of Minor / Birth Certificate must be provided.
  11. Politically Exposed Person (PEP) are defined as individuals who are or have been entrusted with prominent public functions in a foreign country, e.g., Heads of States or of Governments, senior politicians, senior Government / Judicial / Military officers, senior executives of state owned corporations, important political party officials, etc.
  • Proof of Identity (POI): List of document admissible as proof of Identity:
  1. PAN card with photograph. This is a mandatory requirement for all applicants except those who are specifically exempt from obtaining PAN (listed in Section D).
  2. Unique Identification Number (UID) (Aadaar) / Passport / Voter ID Card / Driving license.
  3. Identity card / document with applicant’s Photo, issued by any of the following: Central / State Government and its Departments, Statutory / Regulatory Authorities, Public Sector Undertaking, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies Such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members; and Credit cards / Debit cards issued by Banks.
  • Proof of address (POA): List of documents admissible as proof of Address: (*Documents having and expiry date should be valid on the date of submission.)
  1. Passport / Voters Identity Card /Ration Card /Registered Lease or Sale Agreement of Residence / Driving License / Flat maintenance bill / Insurance Copy
  2. Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill – Not more than 3 months old.
  3. Bank Account Statement / Passbook – Not more than 3 months old.
  4. Self-declaration by High Court and Supreme Court judges, giving the new address in respect to their own accounts.
  5. Proof of address issued by any of the following: Bank Managers of Scheduled Commercial Banks / Scheduled Co-operative Bank / Multinational Foreign Banks / Gazette Officer / Notary public / Elected representatives to the Legislative Assembly / Parliament / Documents issued by any Govt. or Statutory Authority.
  6. Identity card / document with applicant’s Photo, issued by any of the following: Central / State Government and its Departments, Statutory / Regulatory Authorities, Public Sector Undertaking, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies Such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members.
  7. For FII / sub account, Power of Attorney given by FII / sub-account to the Custodians (which are duly notarized and /or apostiled or consularized) that gives the registered address should be taken.
  8. The proof of address in the name of the spouse may be accepted.
  • Exemptions / clarifications of PAN (*Sufficient documentary evidence in support of such claims to be collected.)
  1. In case of transactions undertaken on behalf of Central Government and /or State Government and by officials appointed by Courts e.g. Official liquidator, Court receiver etc.
  2. Investors residing in the state of Sikkim.
  3. UN entities / multilateral agencies exempt from paying taxes / filing tax returns in India.
  4. SIP of Mutual Funds up to Rs 50,000 / -p.a.
  5. In case of institutional clients, namely, FIIs, Mfs, VCFs, FVCIs, Scheduled Commercial Banks, Multilateral and Bilateral Development Financial Institutions, State Industrial Development Corporations, Insurance Companies registered with IRDA and Public Financial Institution as defined under section 4A of the Companies Acr, 1956, Custodians shall verify the PAN card details with the original PAN card and provide duly certified copies of such verified PAN details to the intermediary.
  • List of people authorized to attest the documents:
  1. Notary Public, Gazette Officer, Manager of a Scheduled Commercial / Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).
  2. In case of NRIs, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy / Consulate General in the country where the client resides are permitted to attest the documents.
Additional document to be obtained from corporate bodies, over & above the POI & POA, as mentioned below

Corporate

  • Copy of the balance sheets for the last 2 financial years (to be submitted every year)
  • Copy of latest share holding pattern including list of all those holding control, either directly or indirectly, in the company in term of SEBI takeover Regulations, duly certified by the company secretary/Whole time director/MD (to be submitted every year)
  • Photograph, POI, POA, PAN and DIN numbers of whole time directors/two directors in charge of day to day operations
  • Photograph, POI, POA, PAN of individual promoters holding control – either directly or indirectly
  • Copies of the Memorandum and Articles of Association and certificate of incorporation
  • Copy of the Board Resolution for investment in securities market
  • Authorized signatories list with specimen signatures

Partnership firm

  • Copy of the balance sheets for the last 2 financial years (to be submitted every year)
  • Authorized signatories list with specimen signatures

 

Trust

  • Copy of the balance sheets for the last 2 financial years (to be submitted every year)
  • Certificate of registration (for registered partnership firms only)
  • Copy of partnership deed
  • Authorized signatories list with specimen signatures
  • Photograph, POI, POA, PAN of partners

HUF

  • PAN of HUF
  • Deed of declaration of HUF/List of coparceners
  • Bank pass-book/bank statement in the name of HUF
  • Photograph, POI, POA, PAN of Karta
  • Authorized signatories list with specimen signatures

Unincorporated Association or a body of Individuals

  • Proof of Existence / Constitution document
  • Resolution of the managing body & Power of Attorney granted to transact business on its behalf
  • Authorized signatories list with specimen signatures

Banks / Institutional Investors

  • Copy of the constitution / registration or annual report/balance sheet for the last 2 financial years
  • Authorized signatories list with specimen signatures

Foreign Institutional Investors

  • Copy of SEBI registration certificate
  • Authorized signatories list with specimen signatures

Arm/Government Bodies

  • Self-certification on letterhead
  • Authorized signatories list with specimen signatures

Registered Society

  • Copy of Registration Certificate under Societies Registration ACT
  • List of Managing Committee members
  • Committee resolution for persons authorized to act as authorized signatories with specimen signatures
  • True copy of Society Rules and Bye Laws certified by the Chairman / Secretary