Guidelines
Please follow these steps on how to create a trust account.
Check if all documents on the LAB are complete. If not, please contact the client to inform them of the missing document.
What are the documents needed? (no need to be certified)
> Certificate of Incorporation
> Articles of Association
> The List of members/directors/shareholders
> Trust Deed
> For AU Corporate Accounts, please make sure that LEI is provided and it must be active. Please refer to this link to check http://lei-search.lei-worldwide.com/
> Finally, all members/directors/shareholders (If they own more than 25%) need to provide proof of ID and proof of address documents also.
Note:
If the extract is recent (within the last 6 months) it can be used. This is effectively the same as an incorporation certificate as it validates the entity exists with ASIC and it has all the ownership/directors information like a constitution would provide.
Constitution
When establishing a company to act as the trustee for a Self-Managed Super Fund (SMSF) in Australia, you will generally require an "Articles of Association" along with the "Memorandum of Association". However, over time, these two documents have been replaced with a single document called the "Constitution". Nowadays, companies in Australia typically adopt a Constitution rather than the older Memorandum and Articles of Association.
So, if you're setting up a new corporate trustee for an SMSF, you'd likely need a Constitution for that company. Ensure it complies with both the Australian Securities and Investments Commission (ASIC) and superannuation regulations.
Once all documents are complete, go to the Fusion Hub and open User Management and click on "New User".
Put in the correct details and please always remember that for a trust account, on the name field, it will be the name of the trustee which will be the person/entity of trustee followed by "ATF" which stands for 'as trustee for' and then it will be the trust name. (eg. Kenneth and Danielle Thiele ATF the Kenneth James Thiele Super Fund). You'll see the type of account and trustees on their application. Please see the images below for reference.
On the email address field, please make sure to use the appropriate email address. If they have an individual account, you may copy the email address associated with that account and modify the old email address (adding characters, etc) as it's important that they'll receive the welcome email from us.
Take note: If the client's individual account has an active status, contact the client and asked for a new email address that we can link to their new account.
Default leverage is 1:500 for FM and 1:1 for GP. Please generate a strong password and confirm the IB (if there's one)
Be careful with the password creations and making sure the email on file is correct so the client is sent their welcome email and logins.
Be mindful of the currency - if European, use EUR, if English add GBP, if Au, add AUD etc.
Once done, please send the reset password link to the client.
Send email to ‘Client Success’ - Please follow the format below: you may also refer to previous LAB applications for reference
Subject: KYB Application: Company Name
Attachments: KYB Summary PDF, Requirements (zip file)
Body of the Email
Hi Team,
I have created an account for this KYB Application:
Name of Account:
Main Director/Shareholders Name/s:
MT4/ MT5 Number:
Regulator:
LEI: if there’s any
Same with a company account, for corporate trust account, please always make sure that you have put in the LEI to the MT4 manager and send it to Client Success