Know your business (KYB) is the verification of a company rather than an individual: its registration, ownership, directors, beneficial owners and controllers. Fund platforms apply KYB to entity investors and to the management companies of the managers they onboard.
KYB collects corporate registry extracts, constitutional documents, the register of directors and shareholders, and identification of each beneficial owner and controller, who are then individually screened. Regulated entities can be verified against their regulator's register.
For managers, KYB is part of platform onboarding alongside background checks on principals.
POD applies KYB and background checks to managers and their principals before a fund launches, and KYB to entity investors as part of verification.
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