Customer Identification Program Notice
Important Information You Need to Know About Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account.
This Notice answers some questions about Shopoff Securities, Inc. Customer Identification Program.
What types of information will I need to provide?
When you open an account, we will ask you for information that allows us to identify you, such as:
- Your name
- Date of birth
- Address; and
- Identification number:
- U.S. Citizen: taxpayer identification number (social security number or employer identification number)
- Non-U.S. Citizen: taxpayer identification number, passport number, and country of issuance, alien identification card number, or government-issued identification showing nationality, residence, and a photograph of you.
You will need to provide us with a copy of your driver’s license or other identifying documents.
Additional Requirements for Legal Entities:
A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement, or a trust agreement.
Other Required Information:
U.S. Department of the Treasury, Securities and Exchange Commission, and Financial Industry Regulatory Authority (“FINRA”) rules already require you to provide most of this information. These rules also may require you to provide additional information, such as your net worth, annual income, occupation, employment information, investment experience and objectives, and risk tolerance.
What happens if I do not provide the information requested or my identity cannot be verified?
If you do not provide the necessary information or if we cannot verify your identity, Shopoff Securities, Inc. may not be able to open an account or carry out transactions for you. If Shopoff Securities, Inc. has already opened an account for you, the Firm may have to close it.
Confidentiality and Security of Information:
We take the confidentiality and security of your information very seriously. The information you provide will be handled in accordance with our privacy policy and applicable regulations to ensure your personal data is protected.
Ongoing Monitoring:
To comply with anti-money laundering regulations, we will also conduct ongoing monitoring of account activity to ensure consistency with the information provided at account opening and to identify and report any suspicious activities.
Updates to Your Information:
It is important to keep your information current with us. If there are any changes to your personal or business information, please notify us promptly to ensure our records remain accurate.
Contacting Us:
If you have any questions about this notice or the information required, please contact us at (949) 417-1396 or info@shopoff.com
