Who can use the platform and what actions can I take?
As a securities business, we are not authorized to work with certain types of investors that are non-sophisticated / high net worth/accredited/professional (group name - qualified investor). As the definitions vary from country to country, when registering you will be required to self-certify your investor status and verify your identity before you can take certain actions. Your details will also be used to screen against third-party sanction/PEP lists/data in order for us to comply with our anti-money laundering requirements.
The following charts help you understand which actions you can and cannot take when using our platform subject to our terms and conditions.
To make it clearer, we are introducing 4 tiers:
Tier 1 – Verified
Tier 2 – Verified and Self-Certified
Tier 3 – Verified and Fully-Certified Private Client (meaning that your net worth is less than $1M)
Tier 4 – Verified and Fully-certified High Net Worth (meaning that your net worth is $1M or more and that you have provided proof of asset)
The type of Full Certification you will be presented with depends on your latest verification answer to the Net Worth question. It also depends on your jurisdiction. The below diagrams illustrate this in more detail.
Non-US
US
Definitions
US - A member resident in the US or a US citizen.
Non-US - A member resident outside the US.
Self-Certified - A member that completes their online investor status by agreeing that they meet the definition of a qualifying investor as defined in your investor status that varies depending on your country of residence.
Fully-Certified Tier 3 - A member who has provided proof of net assets/proof of income, or depending on your country of residence, a third party letter/agreement document that is 3 months recent certifying your investor status. We provide a template document that can be found in the investor status section of your account. You only need to complete the section of the document relevant to your country of residence.
Fully Certified Tier 4 (HNW) - A member who has provided proof of more than $1M assets, or a third party letter certifying high net worth status (HNW > $1M).
506b Pitch - A pitch that has registered with our affiliated broker-dealer who is registered with FINRA and the SEC and is restricting investing to accredited qualifying members of our platform that have an established relationship with us having been a member for at least 30 days.
506c pitch - A pitch that has registered with our affiliated broker-dealer who is registered with FINRA and the SEC and the pitch is open to all certified accredited qualifying investors.
Sanctioned Country - A country where we are restricted from engaging in a financial relationship as a result of a restriction imposed by either the US or EU.
Politically Exposed Person (PEP) - a potential member who has been entrusted with a prominent public function.