Tuesday, 18 January 2022
Due Diligence
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Due Diligence is a major cornerstone of ICG, and as such, all our customers are subject to appropriate due diligence. This will seek to assure that our institution is comfortable conducting business with a particular Customer given the customer's risk profile.

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In this way, ICG further developed its' AML (Anti-Money Laundering) and KYC (Know Your Customer) policies for both existing and new customers. For Customers from Ukrane, Russina Federation and CIS Countries additional Due Diligance Requirements coulfd be applied accourdng to the AML local legislation. The additiobnal Due Diligance check, if required, will be organised in cooperation of ICG Partners and ICG Subsidaries. They have been developed keeping in mind the practices required by regulatory authorities of the banking sector. This procedure was also designed to be simple, well defined and easy to accomplish.

Furthermore, ICG operates in a regulatory environment that is internationally recognized in the fight against money laundering. In addition to due diligence, ICG also subjects those customers that may present greater risks to enhanced due diligence. ICG is fully aware that the AML and KYC policies are not only a tool for combating financial crime, but play an important role in the proper management of our financial institution. As part of a sound internal control environment, ICG has policies, practices and procedures in place that promote high ethical and professional standards. In addition, ICG jointly with ICG Partners and ICG Subsidaries has adopted the recommendations of ukrainian financial authorities concerning customer identification and record-keeping.

Please be sure to enclose all the following documents required.

  • A notarized copy of the Certificate of Incorporation / Companies Trade Register Statement (Extract) / Certificate of Good Standing (Certificate of Inclumbercy)
  • A notarized copy of the Memorandum and Articles of Association/Incorporation
  • A notarized copy of the Minutes of First Meeting/Director Appointment
  • Description of the nature of the business activity on company letterhead signed by the Director(s).
  • Resolution of the Board of Directors authorising opening of the securities account and conferring authority on the one or two person(s) who will operate the securities account
  • Certified Copies of passport or other acceptable ID (the page with photo and signature) for Authorized Person, Additional Authorized Persons (if any), all Directors/Officers and Beneficial Owners.
  • A Certified copy of Driver's License is also required for non Ukrainian Citizens
  • A Copy of Utility Bill or a Bank Statement as a proof of address for Authorized Person, Additional Authorized Persons (if any), all Directors/Officers and Beneficial Owners.
    Bank References for the Authorized Person and Authorised Persons (if any) as well as for all Directors/Officers/Beneficial Owners.

Business Description Plan for new ICG customers  

1. Executive Summary
This section should provide an introduction of the company, its mission, objectives and economic purpose for establishing the company.

2. Business Model
This section should form the main content of the document and should include all but not limited to the following sub sections:

  • Detailed Description of all the products and services offered or to be offered by the company. Disclosure of the established or soon to be established markets (countries and companies) where the company will be selling its products and services.
  • Security of delivery of products and services including detailed procedures for due diligence on company customers. Company Fraud detection and prevention policies and procedures in place. Anti-Money Laundering and Anti terrorist financing laws, policies and procedures implemented by the company.
  • Revenue levels in terms of estimated dollar value turnover and expected volume or number of securities and investmetn business transactions to flow through ICG per year.
  • Expenses what type and volume of such transactions to expect flowing through the current bank account on a yearly basis.

3. Plans for the Future
This section should include projections for future expansion and development in terms of products and services, markets, partners, clients etc.

4. Declaration/ Commitment
The company shall declare that all its business will be free from money laundering and terrorist financing and other criminal activities and any other business activity prohibited by ICG  policy. The company will accept that ICG and ICG Subsidaries and ICG Partners (HG Investment Company LTD in CIS Countries, etc) will report to the local authorities any financial activity or account behaviour related to the above range of activities

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