You acknowledge that we may require information from you from time to time to comply with the FINANCIAL INTELLIGENCE CENTRE ACT (FICA), 2001, and any other regulations, directives, and/or guidelines issued by the Financial Sector Conduct Authority (FSCA) of South Africa, from time to time. By signing or submitting an Application Form, opening an account, depositing funds, placing trades, or otherwise transacting with us, you undertake to provide us with all information and assistance that we may require to comply with applicable South African AML/CTF laws.

BAB MARKETS(PTY) LTD  strictly follows the provisions of the anti-money laundering and counter terrorism financing policy and requires its employees to fully observe these standards. The Company takes all necessary measures to detect and prevent money laundering and terrorism financing. The internal rules are applied in accordance with relevant international and South African regulatory requirements.

Each trading account applicant must first be approved and accepted by BAB MARKETS(PTY) LTD  before being allowed to start trading.

1. Ongoing Customer Due Diligence

The Client acknowledges that customer due diligence is continuous. The Company may, at any time, request updated or additional KYC documentation, re-verify the Client’s identity, address, source of funds, source of wealth, or beneficial ownership in accordance with FSCA and FICA requirements. The Client agrees to promptly provide such information upon request. Failure to comply may result in account restrictions, suspension, or termination.

2. KYC Requirements for Natural Persons

For individual clients, the following information is collected:

• True name(s) used;
• Residential address, city code, telephone number;

• Business address;
• Date and place of birth.

Customer identity must be verified using reliable and independent documentation, including but not limited to:

• Valid Passport;
• National ID Card;
• Current photo-card driving license.

The indicated documents should show a clear photograph of the customer.

• Residential address must be verified using one of the following:
• Recent utility bill;
• Recent bank statement;
• Recent credit card statement;
• Tax identification numbers, Social Security number, or government-issued service numbers.

Documents for verification must not be older than three (3) months.

3. KYC Requirements for Legal Persons

For corporate or other non-individual clients, the Company shall verify identity using:

a. Name, legal form, and proof of existence;

• Powers that regulate and bind the entity, including senior management;
• Registered office and principal place of business;

b. Authorization of persons acting on behalf of the entity;

c. Verification of beneficial owners, including controlling persons or senior management.

Required documents may include:

• Government-issued certificates of incorporation or business license;
• By-Laws and General Information Sheet listing directors/partners and shareholders;
• Proof of business address;
• Documents showing ownership structure;

• Identification and proof of address for directors and shareholders holding more than 10%.

Additional information may be requested to comply with South African AML/CTF and FICA laws.

4. Sanctions Screening

All Clients are screened against applicable UN and South African targeted financial sanctions lists. Accounts of individuals or entities from sanctioned countries will not be opened, and existing accounts may be terminated. The Company is not liable for any loss or delay caused by sanctions compliance.

5. Record Keeping

All client transaction records and customer due diligence information are retained for at least five (5) years, or as otherwise mandated by the Financial Intelligence Centre Act (FICA) and FSCA regulations, following the termination of the business relationship or execution of transactions.