What verification documents must be obtained for a legal arrangement?

The required identification information relative to a trust must be evidenced by a copy of the trust deed and any amendments. Where the trust is yet to be established, FIs and DNFBPs may obtain copies of:

• draft trust deeds;
• contractual agreements;
• declarations from the settlor;
• and verification documents of the source of assets to be settled, to verify the details of the proposed legal arrangement.

Where an FI or DNFBP establishes a business relationship or undertakes a one-off transaction with, or for another form of legal arrangement other than a trust, equivalent verification measures must be undertaken.