Anti-money Laundering Requirements
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 H. Beck, Inc.'s Customer Identification Program.
What types of information will I need to provide?
When you open an account, H. Beck, Inc. is required to collect information such as the following from you:
- Date of birth
- 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. If you are establishing an account for a legal entity, we will ask for the names, addresses, dates of birth, and other identification information of the beneficial owners of the legal entity. Additionally, we may request identifying information on the individuals or entities that have control over and/or ownership associated with an account.
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?
H. Beck, Inc. may not be able to open an account or carry out transactions for you. If H. Beck, Inc. has already opened an account for you, it may be forced to close it. H. Beck, Inc. will not be responsible for any losses or damages (including but not limited to lost opportunity) resulting from any failure to provide this information, or from any restriction placed upon, or closing of the account.
H. Beck, Inc. thanks you for your patience and we hope that you will support our efforts to deny terrorists and money launderers access to America's financial system.