AML repeated client due diligence

Dear Clients,

please note that if you established business relationship with KELER Ltd. before 7 August 2017, repeated client due diligence is to be performed in line with the provisions of the new act on the prevention and combatting of money laundering and terrorist financing (Pmt.^[1]). To this end, KELER Ltd. contacts all clients concerned.

As part of repeated client due diligence, the following documents need to be sent to KELER Ltd. not later than 30 April 2019:

I.   Certified copies^[2] of the following documents of the organization represented:

• in the case of domestic legal person whose existence is subject to registration by an authority or court, a document issued within 30 days to date evidencing registration or the submission of registration request;
• in the case of foreign legal person and unincorporated organization, a document issued within 30 days to date proving that it has been registered under the law of the country in which it is established.

If not included in the documents, the following data are also required to be provided in line with Sections 7 (2) bc)-bg) of the Pmt: main activity of the organization; names and titles of representatives; data of the agent for service of process suitable for identification purposes (if applicable); number or registration number of the decree on the creation (registration) of the organization and tax number.

II.   Simple or certified copies of the following documents^[3] of the person(s)^[4] entitled to act in the name or on behalf of the organization (depending upon the client category):

• official document suitable for identification purposes and official address card for Hungarian citizens,
• passport or personal identification document for foreign nationals, if it embodies an authorization to reside in Hungary, or document evidencing the right of residence or a valid residence permit.

If not included in the document, the following data are also required to be provided in line with Sections 7 (2) ae) and af) of the Pmt: mother’s birth name, home address.

III.   Completed, duly signed Beneficial Owner Statement.

IV.   Completed, duly signed FATCA Statements.

We inform you that if until 26 June 2019 KELER Ltd. cannot perform the repeated due diligence measures in line with the Pmt. (Sections 7-11, 15, and 17-19), KELER Ltd. is required to refuse the execution of the transactions of the Clients.

Please note that the Pmt. (Section 12 (2)) also requires KELER Ltd. to perform repeated due diligence for all Clients regularly, in line with the categories stated in internal regulations, with a frequency ranging from every year to every 5 years. (Repeated client due diligence is to be performed in line with the frequency of the category stated in the internal regulation of KELER Ltd., at least annually, or every 5 years at most, calculated from the date of the last client due diligence.)

Your kind cooperation in the performance of the client due diligence measures and the provision of the necessary data, document copies and statements before the deadline will be much appreciated.

Budapest, 7 March 2019

KELER Ltd.