Anti-Money Laundering Policy
Regulations – such as the Anti-money laundering and Terrorist Financing Code, Revised Regulations of Anguilla P98-5 – in relation to the prevention of money laundering and thefinancing of terrorism, certain reporting obligations have been imposed on the financial sector. Within this context, a procedure for the identification of investors has been imposed, namely, the application form of a prospective investor must be accompanied by supporting documents recommended or prescribed by applicable rules and regulations allowing the appropriate level of identification of the prospective investor and, as the case may be, its beneficial owners.
These measures require the Management Company to request verification of the identity of any prospective investor. By way of example, an individual will be required to produce a copy of his/her passport or identification card duly certified by a competent authority (such as an embassy, consulate, notary, police officer, solicitor, financial institution domiciled in a country imposing equivalent identification requirements or any other competent authority). In the case of corporate applicants, this may require, amongst others, production of a certified copy of the certificate of incorporation (and any change of name), the memorandum and articles of association (or equivalent), a recent list of shareholders showing a recent stake in its capital, printed on the letterhead of the investor duly dated and signed, an authorised signature list and an excerpt of the trade register. This list is not exhaustive and Prospective Shareholders may be asked to provide additional or updated documents in accordance with the obligations for on-going control and supervision in accordance with applicable laws and regulations to ensure the identification of the final beneficial owner of the Shares.
In the event of a delay or failure to provide the required documents, the subscription or redemption request will not be accepted. Neither the Fund, the Management Company, nor the Transfer Agent can be held liable for any delay or non-execution of transactions in the absence of the investor providing the documents or in the event of providing incomplete documents. Similarly, redemption proceeds will not be paid unless compliance with these requirements has been made in full. In any such event, neither the Fund nor the Management Company will not be liable for any interest, costs or compensation.
The identification requirements may be waived by the Fund, the Management Company or the Administrative Agent in the following two instances:
In the case of a subscription through a financial intermediary, which is regulated by a regulatory authority which imposes an identification obligation equivalent to that required under Anguilla laws for the prevention of money laundering and to which the financial intermediary is subject.
In the case of a subscription through a financial intermediary the parent of which is supervised by a regulatory authority that imposes an identification obligation equivalent to that required under Anguilla laws for the prevention of money laundering, provided the law applicable to the parent or the group policy imposes an equivalent on its subsidiaries or branches.
Any information provided in this context is collected for anti-money laundering compliance purposes only.