A UBO, or Ultimate Beneficial Owner, is defined as any individual who owns 25 percent or more of a legal entity.
As part of Novo’s Customer Due Diligence (CDD) program, we require that you provide, and periodically verify the accuracy of, the following information:
1. Identifying details of each individual, if any, who owns, directly or indirectly, 25 percent or more of the equity interests of a legal entity customer (e.g., each natural person that owns 25 percent or more of the shares of a corporation); and
2. An individual with significant responsibility for managing the legal entity customer (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer).
To add the UBO, the following information must be provided:
1. First and Last Name
2. Date of Birth
3. Social Security Number (SSN)
4. Percentage of Ownership
5. Citizenship
6. Email Address
7. Phone Number
8. Personal Address
9. ID Verification
It is critical to keep this information up to date to maintain compliance with legal and regulatory standards.