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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.
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