What onboarding information is required for a fund?

Published on Oct 13, 2023Updated on Jan 29, 20252 min read65

What's a fund?

Funds are collective investment vehicles established by pooling money from investors, such as hedge funds, pension funds, mutual funds, and private investment funds.

Who are the key persons for a fund?

  • Corporate officers: Persons with significant responsibility to control, manage, or direct the fund including executive officers or senior managers (for example, CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer), or any other persons who regularly perform similar functions.

  • Directors: Persons elected or appointed to serve on the board of directors of the fund. These persons govern and oversee the fund, and are responsible for its high-level strategy, operations, and accountability.

  • Ultimate beneficial owners: Persons who ultimately own and/or who exercise ultimate control over the Privately Owned Company. “Ultimately owns” and “ultimate effective control” refer to situations in which ownership/control is exercised through a chain of ownership or by means of control other than direct control.

  • Authorized users: Persons who have access to and can operate your institution’s OKX account.

What'll a fund need to consider for the onboarding process?

  • Identify all key parties

    • Identify all parties involved in the fund, including the corporate officers, directors, ultimate beneficial owners, and any authorized users.

  • Provide organizational documentation

    • Provide organizational documentation that regulates and binds the fund and establishes its control and management structure.

  • Provide identifying information

    • Provide identifying information for the fund, such as your institution’s legal full name, registration address, principal place of business, institution type, and industry, amongst other pertinent and verifiable data.

  • Provide identification documentation

    • Provide valid proof of identity (PoI) and proof of address (PoA) documents that verify the existence and establishment of the fund, as well as the identity of each key person involved.

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