Key Steps in Customer Onboarding

Key Steps in Cantor Fitzgerald's Customer Onboarding

1. Customer Identification Procedures (CIP)
   • Customers are required to provide identifying information: name, address, date of birth (for individuals), and other details as mandated by law and regulation.
   • This is part of the firm's Customer Identification Program, as required under anti-money laundering (AML) regulations.
2. Account Opening and Counterparty Approval
   • The process includes:
     • Verification of customer identity.
     • Assessment of anti-money laundering (AML) risks.
     • Counterparty approval for institutional clients, including due diligence checks.
3. Documentation
   • Customers must supply supporting documents to verify identity and, for entities, legal structure, and authorized signatories.
   • This may include government-issued ID, proof of address, corporate documents, and beneficial ownership details.
4. Risk Management & Compliance Checks
   • Onboarding involves verification steps to assess risk and ensure compliance with AML and Know Your Customer (KYC) regulations.
   • Screening for sanctions, politically exposed persons (PEPs), and adverse media.
5. Systematic Procedures
   • The onboarding process is described as robust and systematic, intended to meet legal, regulatory, and internal policy requirements.
   • For UK clients, onboarding ensures the individual's or entity’s right to work or operate in the jurisdiction.

Summary Table

Step/Procedure	Details
Customer Identification	Collection of ID info, personal/corporate data
Documentation	Submission of proofs, corporate docs, signatures
AML & KYC	Identity verification, AML checks, sanction list screening
Counterparty Approval	Due diligence for institutions and high-value accounts
Compliance & Risk Management	Ongoing monitoring; ensures robust regulatory and legal compliance