We regularly check in with you and your client to confirm we have the right details about their identity, source of funds, and the reasons for investing with us. This is part of our regulatory obligation due to Anti-Money Laundering/Counter Terrorism Financing (AML/CTF).
Why does my client need to confirm their identity?
What ID information does my client need to provide?
Your client’s entity type will affect what information you need to provide us. Refer to the relevant entity below:
- Individual
- Politically Exposed Person (PEP)
- Australian Company (Proprietary & Public)
- Foreign Company
- Trust (unregulated)
- Trust (regulated – SMSF)
- Association
Please note, identification documents must have been certified within the last 12 months, at the time of acceptance by us. See Personal Help Centre for more information on our certification requirements.
Individual
If we contact you about updating your client's information, you'll need to provide the following information:
| Information we need for your client | How to provide |
|---|---|
| Complete a FSC Identification Form – Individuals & Sole Traders |
| Confirm this information by email. |
| Provide a wet ink certified copy of your client’s photo ID. |
Politically Exposed Person (PEP)
A PEP is defined as an individual:
- who holds a prominent public position or function in a government or international organisation
- who is an immediate family member of a person referred to in point 1
- who is a close associate of a person referred to in point 1.
You can find out more by visiting the AUSTRAC website.
If we’ve contacted you about updating the details for your PEP (Politically Exposed Person) client, you’ll need to provide the following information:
| Information we need for your PEP client | How to provide |
|---|---|
| Complete a FSC Identification Form – Individuals & Sole Traders |
| Confirm this information by email. |
| Provide a wet ink certified copy of your client’s photo ID. |
Australian Company (Proprietary & Public)
If we’ve contacted you about updating the details for your client’s Australian Company client, you’ll need to provide the following information:
| Information we need for your client's Company | How to provide |
|---|---|
| |
| Confirm this information by email. |
Beneficial owners are individuals who ultimately own 25% or more of the Company’s issued share capital (through direct or indirect shareholdings) OR individuals who directly or indirectly control the Company such as directors or C-level executives. If shares are held non-beneficially on behalf of another entity we require supporting documentation of this arrangement e.g. if shares are held on behalf of a trust we require a certified copy of the trust deed. | Complete a FSC Identification Form – individuals & Sole Traders for each Beneficial Owner |
| Provide an ASIC extract for the Company OR a wet ink certified copy of a certificate of registration issued by ASIC. |
Foreign Company
If we’ve contacted you about updating the details for your Foreign Company, you’ll need to provide the following information:
| Information we need for your client's Company | How to provide |
|---|---|
| Complete a FSC Identification Form – Foreign Companies. |
| Confirm this information by email. |
Beneficial owners are individuals who ultimately own 25% or more of the Company’s issued share capital (through direct or indirect shareholdings) OR individuals who directly or indirectly control the Company such as directors or C-level executives. If shares are held non-beneficially on behalf of another entity we require supporting documentation of this arrangement e.g. if shares are held on behalf of a trust we require a certified copy of the trust deed. | Complete a FSC Identification Form – individuals & Sole Traders for each Beneficial Owner |
|
|
Trust (unregulated)
If we have contacted you about updating the details for your client's Trust (unregulated), you’ll need to provide the following information:
| Information we need for your client's Trust | How to provide |
|---|---|
| |
| Confirm this information by email. |
| Individual Trustee/s: Complete the requirements under the Individual section of this page. Company Trustee: Complete the requirements under the Company section of this page. |
| Provide a wet ink certified copy of the trust deed. |
Trust (regulated - SMSF)
If we’ve contacted you about updating the details for your client's Trust (SMSF), you’ll need to provide the following information:
| Information we need for your client's Trust | What to provide |
|---|---|
| |
| Confirm this information by email. |
| Individual Trustee/s: Complete the requirements under the Individual section of this page. Company Trustee: Complete the requirements under the Company section of this page. |
| Provide a wet ink certified copy of the trust deed. |
Association
If we’ve contacted you about updating the details for your client's Association, you’ll need to provide the following information:
| Information we need for your client's Association | What to provide |
|---|---|
| Complete a FSC Identification Form – Associations Form |
| Confirm this information by email. |
Beneficial owners of an association may include individuals that directly or indirectly entitled to exercise 25% or more of the voting rights, including power of veto, Chairman, President, Treasurer or Secretary.
| Complete a FSC Identification Form – Individuals & Sole Traders |
| One or more of the following is required to be sent in with the required identification form completed in full;
|
Where do I send my client’s documents?
Please send your responses along with a certified copy of your client’s photo ID, a completed Financial Services Council (FSC) form, and any other additional documents listed above to adviser@macquarie.com quoting your client’s reference number.
We need to receive your answers to the questions above within seven days.
If you would like to discuss this further, please use live chat to speak with an adviser consultant Monday to Friday, 8am to 7pm Sydney time.
Once the documents are provided, we’ll verify your client’s information against our records. If we aren’t able to successfully verify your client’s information by the date specified in our communication, we’ll need to place restrictions on your client’s accounts.
What restrictions can be placed on my client’s accounts?
For Cash Management Accounts (CMAs), Wrap, Transaction and Savings Accounts, the following restrictions will apply if we can’t successfully verify your client’s identity:
For cash, wrap and transaction and savings accounts:
- You and your client won’t have access to the money in any Macquarie accounts. If your client holds a trading/investment account, you and your client won’t be able to place investment transactions (equity trades, managed fund orders etc)
- Any direct debits or pension payments that are set up to come out of your client’s account/s will no longer be processed
- Your client now won’t be able to withdraw cash at ATMs using their card or access funds at point of sale (if applicable to the product)
- Your client can still receive payments into their account, however you and your client won’t be able to access these funds
- Your client can contribute repayments into your loan account/s.
When will restrictions be removed from my client’s accounts?
If we’re able to successfully verify your client’s information, we’ll remove the restrictions placed on their accounts. If applicable, your client’s loan services will also resume if we’re able to successfully verify their information.
It’s important to note that there are other reasons why we may need to place restrictions on accounts. However, this article explains why we may need to place restrictions on accounts for AML/CTF reasons.
Related articles
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Confirming your client's identity -
Providing client signatures -
Understanding certification standards and requirements
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