Know Your client
ABOUT USTo support our KYC policy and procedures, Jay City Finance Ltd requires information and identification of parties that requires our services for the arrangement of corporate finance solutions.
This information includes:
- Maintaining an understanding of the nature and legitimacy of all our counterparties’ businesses
- Understanding the necessity, affordability and viability of finance facilities that they wish for us to arrange
- Maintaining KYC records for the duration of any agreements and for at least five years following their completion
- Monitoring ongoing agreements and company information surrounding the parties involved in these transactions for unusual or suspicious activity
If at any point Jay City Finance Ltd considers a past, current or future client high-risk for any reason (for example named on a sanctions list or engaging in unusual business activity) we may:
- Cease trading with the counterparty
- Identify the beneficial owners of the counterparty and check whether the beneficial owners are on any watchlists or sanctions list
- Inform any current funders or funders we may have introduced the client to of our findings
Jay City Finance Ltd ensures that the following measures are in place:
- All staff are given up to date training in line with all funders and legal KYC requirements
- Necessary due diligence is carried out on all parties engaging with our services
- Valid ID is provided for individuals who have signed paperwork and where requested is provided to funders. Where not required that it is kept on file for the duration of the agreement and archived thereafter