Money Laundering

With effect from 1st December 2001, the Financial Services Authority (FSA) has assumed full responsibility for money laundering procedures.

To comply with the requirements of the Criminal Justice Act 1993 and the Money Laundering Regulations of the FSMA 2000, we are required to obtain verification of identity of any company, trustees or member's when accepting new business.

We must therefore be provided with the following documents in advance of establishing a pension arrangement:-

A. Company

  • a certified photocopy of the Certificate of Incorporation
  • a certified copy of the latest company accounts

Independent certification by the company's accountant or Independent Financial Adviser (IFA) is sufficient.

We also carry out a webcheck using the Company's House website to ensure the company is actively trading.

B. Trustees and Members

For each individual trustee or member:

i) IPS uses an online verification of identity facility known as URU. This carries out a number of checks to ensure your identity is correct. If this does not work (for example you have recently moved, or have a foreign passport), we will ask you for original or certified copy evidence of identity (copies certified by an accountant, solicitor or Independent Financial Adviser are accepted).

Personal Identity Check - please supply the ORIGINAL of one of the following:

  • current signed passport
  • residence permit issued by the Home Office to EU Nationals on sight of their own country's passport
  • UK photocard or old style full driving licence
  • benefit book or notification letter from the Benefits Agency confirming the right to benefits
  • Inland Revenue tax notification or coding notice
  • Firearms certificate

Address check- please supply the ORIGINAL of one of the following, showing current address:

  • gas, electricity or telephone bill (mobile 'phone bills are not acceptable)
  • mortgage statement
  • council tax demand
  • bank, building society or credit card statement

Please note, statements must be less than 3 months' old.

ii)Alternatively we can accept a verification of identity certificate completed by an Independent Financial Adviser.

If you have difficulties with any of these requirements, please let us know. We cannot accept you as a client until these requirements are satisfied.

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