MEMBERS’ NOTICE No. 1/2018
Date: 5th June, 2018
To: All Members of the Uganda Securities Exchange Limited
The USE hereby informs all its esteemed agents of the following required documents for account opening which are in line with Regulations 18,19,20,21,22,23,24,25,26 and 27 of the Anti Money Laundering Regulations No 75 of 2015 and Operating Procedure no. 3 under the USE SCD Operating procedures of 2015.
1.0. Individuals
1.1. Individuals (Locals)
a) 3 coloured passport Photos
b) Identification Documents (National IDs, Passport and Driving Permits only)
c) Fully Filled and Executed Form 1A
d) A summary of the nature of business activities that the person is engaged in or details of source of income
e) A disclosure of the risk appetite of the client
1.2. Individuals (East African)
a) 3 coloured passport Photos
b) Identification Documents(National IDs, Passport only)
c) Fully Filled and Executed Form 1A
d) A summary of the nature of business activities that the person is engaged in or details of source of income
e) A disclosure of the risk appetite of the client
1.3. Individuals (Foreign)
a) 3 coloured passport Photos
b) Identification Documents( Certified copies of Passport Only)
c) Fully Filled and Executed Form 1A
d) A summary of the nature of business activities that the person is engaged in or details of source of income.
e) A disclosure of the risk appetite of the client
2. Minors (Foreign, Locals and East African)
a) 3 passport photos of the Minor
b) Birth Certificate/ certified copy of the Passport
c) Parents details as stipulated in 1 above
d) Fully Filled and Executed Form 1A
3. COMPANIES
3.1. Limited Companies
a) Certified Incorporation certificate (plus copy of notarised certificate of incorporation for a foreign company or any other similar documentation evidencing legal status of the entity.
b) The trade name under which the entity or body conducts business.
c) Articles and memorandum of association or any other form of incorporation documentation.
d) Board resolution indicating that the account is to be opened with the U.S.E and the relevant signing powers
Note: foreign nationals present passport or refugee card
e) Fully Filled and Executed Form 1b and attach Identification documents for the Signatories as indicated in 1 above.
f) Fully Filled and Executed Form 1A for all the Signatories
g) Three (3) passport photographs of the proposed signatories
4. CLUBS, ASSOCIATIONS AND COMMITEES NOT SET UP BY GOVT
a) Certified Proof of registration.
b) Constitution/ memorandum of understanding should be provided
c) Resolution indicating that the account is to be opened with the U.S.E and the relevant signing powers
d) Proof of identity of the proposed signatories (passport, drivers licence, voters card, ID document, national ID)
Note: foreign nationals present either passport or refugee card
e) Three (3) passport photographs of the proposed signatories
f) Fully Filled and Executed Form 1A for all the Signatories
g) Fully Filled and Executed Form 1b
5. PARTNERSHIP
a) Registered Partnership deed
b) Certificate of Registration of the business
c) Legal document listing authorized signatories
d) Mandate from the partnership authorizing the opening of an account with the U.S.E and the relevant signing powers
e) Proof of identity of the proposed signatories (passport, drivers license, National ID document)
Note: foreign nationals present either passport or refugee card
f) Three (3) passport photographs of the proposed signatories
g) Fully Filled and Executed Form 1A for all the Signatories
h) Fully Filled and Executed Form 1b
6. Sole Proprietorship
a) Certified Registration certificate (if not trading in own names)
b) Declaration of terms
c) Application to open an account addressed to the USE
d) Proof of identity of the proposed signatories (passport, drivers license, National ID document)
e) Three (3) passport photographs of the proposed signatories
f) Fully Filled and Executed Form 1A for all the Signatories
g) Fully Filled and Executed Form 1b
7. Estate Accounts
a) Letters of Administration*/Letters of probate* and will (if applicable)
b) Proof of identity of the proposed signatories (passport, drivers license, National ID document)
Note: foreign nationals present either passport or refugee card
c) Three (3) passport photographs of the proposed signatories
d) Fully Filled and Executed Form 1A for all the Signatories
*The documents should be certified by the relevant issuing authority
Kindly Note:
a) These are general requirements but in specific cases, the Exchange might require some extra KYC documents
b) Fully Filled and Executed SCD Form: This refers to a form with all the fields properly filled, authorized and stamped by the SCDA
c) Company Documents from Kenya should be certified by a commissioner of oaths
Failure to observe these requirements shall be treated as a default of the company’s membership obligations, and the USE reserves the right to reject any accounts that do not comply.