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MARGIN DISCLOSURE
DAY TRADING DISCLOSURE
EXTENDED HOURS TRADING
RISK DISCLOSURE
ANTI-MONEY LAUNDERING
USA PATRIOT ACT
PORTFOLIO MARGINING
DISCLOSURE STATEMENT
OTC BULLETIN BOARD &
PINK SHEET RISK DISCLOSURE
DATA INTEGRITY & FAST MARKET
RISK DISCLOSURE
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| ANTI-MONEY LAUNDERING – USA PATRIOT ACT |
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The USA PATRIOT Act
The USA PATRIOT Act, signed by President Bush, is designed to detect, deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage firms and financial institutions. By April 24, 2002, all brokerage firms were required to have new, comprehensive anti-money laundering programs. To help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.
What is money laundering?
Money laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.
How big is the problem and why is it important?
The use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year.
What are we required to do to eliminate money laundering?
Under new rules required by the USA PATRIOT Act, our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits, and establish policies and procedures to detect and report suspicious transactions and ensure compliance with the new laws. As part of our required program, we may ask you to provide various identification documents or other information. Until you provide the information or documents we need, we may not be able to open an account or effect any transactions for you.
We thank you for your patience and hope that you will support us in our efforts to deny terrorist groups access to America's financial system.
Please be advised that ProTrade Financial a Divison of Meridian Equity Partners shall request personal information from you during the account opening stages to verify your identity, as required by Federal law. Furthermore, additional information may be requested during the life of the account pursuant to such Federal Law.
Customer Identification Program Notice
Important Information You Need to Know About Opening A New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account. This Notice answers some questions about your firm’s Customer Identification Program.
What types of information will I need to provide?
When you open an account, your firm is required to collect information such as the following from you:
- Your name
- Date of birth
- Address
- Identification number:
- U.S. Citizen: taxpayer identification number (social security number or employer identification number
- Non-U.S. Citizen: taxpayer identification number, passport number, and country of issuance, alien identification card number, or government-issued identification showing nationality, residence, and a photograph of you.
- You may also need to show your driver’s license or other identifying documents.
A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement, or a trust agreement. U.S. Department of the Treasury, Securities and Exchange Commission, FINRA, and New York Stock Exchange rules already require you to provide most of this information. These 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 I don’t provide the information requested or my identity can’t be verified?
Your firm may not be able to open an account or carry out transactions for you. If your firm has already opened an account for you, they may have to close it. We thank you for your patience and hope that you will support the financial industry’s efforts to deny terrorists and money launderers access to America’s financial system.
For additional information on Anti-Money Laundering Rules and Regulations, individuals can visit the FINRA's: Anti-Money Laundering information resources page
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