On a regular basis, Saxo will contact you to verify your personal information and provide updated documentation.
We hope this article will help answer some of the questions you might have about this topic.
- Why are we asking you to update your client information?
- What happens if you do not answer?
- Do we ask all our clients?
- How do we protect your personal data?
- How will we contact you?
- Can we help you?
Why are we asking you to update your client information?
Your safety and trust are paramount to us and as a regulated financial institution, we are required to establish policies and measures to prevent any potential financial crime abuse. These measures are applied both - when you join us as a client and throughout our relationship.
We need to know who our clients are and how they intend to use our services. Therefore, from time to time we may ask you to update your client information and potentially supply supporting documents, e.g., to update the residential address, provide the latest proof of identity or verify your source of funds and wealth.
We will also update your information if we become aware that your personal circumstances have changed.
The kind of documentation needed varies depending on your type of client relationship and your personal circumstances. Depending on the documents and information we receive from you, we might need to contact you via email or platform notifications for additional information.
What happens if you do not answer?
If we are not able to update your information, it may affect how you can use our services in the future, putting your account on reduced exposure (meaning that you will be unable to add funds to your account or open new positions) or at risk of terminating the account.
Do we ask all our clients?
Yes. When we start a new relationship with a client, we need to get to know them, which means asking for their personal details and documents. We also check and update this information during our relationship, no matter who the client is or how long they have been with us.
How do we protect your personal data?
How will we contact you?
Depending on the documents and information we receive, we might need to contact you for additional information. This happens mostly via email or a platform notification.
Can we help you?
We would like to make this process as smooth as possible for you. If you do have any questions regarding this process, please do not hesitate to contact us.