APAC Due Diligence Scope of Services: Singapore-based Funds

SERVICE

CARTA RESPONSIBILITIES

CLIENT RESPONSIBILITIES

Investor AML/KYC (Non-U.S. based Funds)

Carta will provide the following AML/KYC services, including conducting Customer Due Diligence (“CDD”) for all investors and  connected parties:

1. Onboarding

   1. Collecting and reviewing of CDD documents and relevant information as required

   2. Identification and verification of the identities of the investor and connected parties, such as -

      • Entity information

      • Control person of entity

      • Individual beneficial owner holding 25% or more interests, where applicable

   3. Conduct screening on the investor and connected parties and report to the Client on the screening results for the following watchlists:

      • Politically Exposed Person (PEP) list;

      • Sanctions list;

      • Enforcement list; and

      • Adverse media

   4. Perform risk rating assessment on the investor

2. Periodic monitoring

   1. Review and request updated documents to maintain  up-to-date documents/information 

   2. Conduct screening

   3. Perform risk rating assessment

   4. Provide updates to the Client on changes to the screening and risk rating

3. Perform recurring  screening of applicable parties during the contract period 

Client (either through Client’s GP or Client’s legal counsel) to provide Carta with all necessary KYC documents containing the relevant information required by Carta to perform the AML/KYC services on the investor and its connected parties. Investor’s KYC documents include:

For Individuals:

• Current passport;

• Proof of address; and

• Source of Funds and Source of Wealth Declaration and its supporting document

For entities:

• Copy of formation documents;

• Register of Directors and Controlling Persons;

• Register of Shareholders;

• Source of Funds and Source of Wealth Declaration;

• Latest financial statement; and

• Identification and verification of IDs of each director, controlling person and shareholder.

Note: List of KYC documents required subject to the types of investors.