The identification and verification information we require from Clients before an Account can be opened and activated, in compliance with FICA.
This summary explains the identification and verification information Makeba Markets (Pty) Ltd (FSP 53160) requires from Clients before an Account can be opened and activated, in compliance with FICA. It should be read together with our AML & KYC Policy.
Individual Clients are required to provide a certified copy or electronically verifiable image of a valid, government-issued identity document or passport, reflecting full name, date of birth, and identity/passport number.
Clients must provide a document confirming their residential address dated within the preceding three months, such as a utility bill, bank statement, or official government correspondence.
Clients must disclose the source of the funds to be deposited (for example, salary, business income, savings, or investment proceeds) and, for larger deposits or higher-risk profiles, may be required to provide supporting documentation evidencing source of wealth.
Where the Client is a legal entity, the Company additionally requires constitutional documents (such as a certificate of incorporation and memorandum of incorporation), a register or confirmation of directors and beneficial owners, and identification and verification documents for all beneficial owners holding, directly or indirectly, the threshold ownership or control interest prescribed under FICA.
Additional documentation and information may be requested where a Client is identified as a politically exposed person, resides in or has links to a higher-risk jurisdiction, or where the Company's risk assessment otherwise warrants further verification. See our PEP and Sanctions Screening Statement.
The Company may periodically request updated identification, address, or source-of-funds information to keep Client records current, in line with its risk-based approach to ongoing due diligence.
The Company will not activate trading functionality, and may restrict deposits or withdrawals, until the required verification documentation has been received and approved. The Company reserves the right to decline an application or close an Account where satisfactory verification cannot be completed.