U.S. Procedures for new account openings or establishing a new customer relationship for Commonwealth Bank of Australia or Commonwealth Australia Securities LLC located in the USA mandated by the USA PATRIOT Act and the FinCEN CDD Rule
To help the U.S. Government fight the funding of terrorism and money laundering activities, U.S. Federal law requires all U.S. financial institutions to obtain, verify, and record information that identifies each person and each legal entity that opens an account or establishes a customer relationship. Federal law also requires all U.S. financial institutions to obtain, verify, and record information that identifies the beneficial owners of a legal entity that opens an account or establishes a customer relationship.
What this means for you: When you or your business entity opens an account or establishes a new customer relationship with Commonwealth Bank of Australia or Commonwealth Australia Securities in the USA, we will request information and supporting documents which will allow us to identify you. We will ask for your name, address, date of birth and other identification information as applicable. If you are opening an account on behalf of a business entity, we will also ask for the names, addresses, dates of birth and other identification information for the beneficial owners who own and/or control the business entity. Documents relating to the business entity’s formation, existence and authority also may be requested. We will use this information to verify your identity and, where applicable, the identity of your business entity’s beneficial owners.
As appropriate, we may, in our discretion, ask for additional documentation or information. If all required documentation or information is not provided, we may be unable to open an account or establish a customer relationship with you.