Ethio Fidelity Securities S.C. is committed to preventing the use of its services for money laundering, terrorist financing or other financial crime, and to meeting its obligations under Ethiopian law and the requirements of the Ethiopian Capital Market Authority.
Client identification
We verify the identity of every client before an account becomes operational. Individual clients provide government-issued photo identification, proof of address, a recent photograph and a tax identification number. Institutional clients additionally provide constitutional documents, a board resolution authorising the account, and identification for authorised signatories and for beneficial owners holding a qualifying interest.
Beneficial ownership
We identify the natural persons who ultimately own or control an institutional client. We do not open accounts where beneficial ownership cannot be established to our satisfaction.
Ongoing monitoring
Client relationships and transactions are monitored on a risk-sensitive basis. We may ask you at any time to explain the source of funds or the rationale for a transaction, and to update the information we hold about you. These requests are a regulatory requirement and are not an accusation.
Enhanced due diligence
Additional scrutiny is applied to higher-risk relationships, including politically exposed persons and clients connected to higher-risk jurisdictions.
Reporting
Where we know or suspect that funds or a transaction are connected to criminal conduct, we are required to report the matter to the appropriate authority. We are prohibited by law from informing you that such a report has been made.
Refusal and termination
We may decline to open an account, refuse to act on an instruction, or terminate a relationship where we cannot complete verification, where information provided is inaccurate, or where continuing would expose the firm to unacceptable financial crime risk.
Training and governance
Staff receive training appropriate to their role, and the programme is overseen by the firm's compliance function and reported to the Board.