Anti-Money Laundering Policies & Customer Identification Program
To help the US government fight the funding of terrorism and money laundering activities, Federal law requires all US financial institutions to obtain, verify and record information that identifies each individual or institution that opens an account or establishes a customer relationship with Boomerang Capital, LLC.
What this means: If you (as an individual) enter into a new customer relationship with Boomerang Capital LLC, the Firm will ask for your names, address, date of birth (if applicable), and other identification information which may be appropriate given your particular circumstances. This information will be used to verify your identity. As appropriate, the Firm may, in its discretion, ask for additional documentation or information. The firm also has standards when opening an account for an institutional entity and shall require information and documentation such as but not limited to:
- Requesting certain information from you, such as the legal name of financial institution conducting trades and tax identification number, location and designation of persons with trading authority.
- Taking steps to check the information provided – to verify that institutions are who they say they are.
- Consulting applicable governmental agency lists of known or suspected criminals, terrorists and terrorist organizations to determine if someone on any such list is attempting to open or maintain an account.
- Conducting in certain instances, additional due diligence when accounts are opened for foreign persons or institutions, and other certain clients
- The US Department of the Treasury, Securities and Exchange Commission, FINRA and New York Stock Exchange rules already required you to provide most of this information.
If you (as an institution) enter into a customer relationship with Boomerang Capital and are subject to the definition of customer as applied to AML rules, the firm will ask for corporate information that identifies the name of the entity, its location, offices, types of firm, regulatory filings and some other particular information. The firm will then do a non documentary verification to identify the existence of the entity.
What happens if I don't provide the information requested or my identify can't be verified?
We may not be able to establish or maintain a business relationship with you and introduce you to investment opportunities. If Boomerang Capital, LLC has already established a relationship, it may have to terminate it. If you establish a relationship and refuse to provide this information, we may be required to report this action to appropriate governmental authorities.