Money Laundering Regulations
Purchasers attending the auction must fulfil these requirements.
You can also download this document (pdf)
As many people maybe aware the Anti-Money laundering regulations came into effect on 1st March
2004 and as property auctions fall within a ‘relevant business’ it is a requirement upon this company to follow certain procedures within this legislation.
For these reasons it is a requirement for purchasers attending the auction and transacting business with ourselves to provide relevant documentation in order to fulfil these requirements. Customers should be aware that this documentation is required for these purposes only and all data protection regulations will be adhered to.
If you have any queries relating to these regulations and requirements you should contact us PRIOR TO BIDDING AT AUCTION.
For this purpose Clare Clark may be contacted on 01603 598975 or emailed at Clare.Clark@sequencehome.co.uk
There are some circumstances where we are not required to verify evidence of persons transacting business and in short these are:
- You are authorised by the Financial Services Authority (FSA) to carry on financial services or banking activity.
- You are covered by European Money Laundering Directive (e.g. If you are a bank established in the European Union or a listed PLC on the London Stock Exchange or other recognised UK investment exchange or as a subsidiary of such listed PLC.
- Where you are a regulated buyer, an overseas regulatory authority and based in a Non-European economic area, State with laws comparable to the provisions of the European Money Laundering Directive (i.e. A bank established in the USA)
- Where you are acting on behalf of one of the other with a certified original copy letter as above.
In these circumstances, proof will be required
In the case of any doubt you should contact us PRIOR TO ATTENDING THE AUCTION.
If you are attending the Auction on behalf of a purchaser you must be able to provide certified copies (i.e. Copies of original documentation signed as true certified copies by a solicitor of both the Purchasers identification and that of your identification). Such certified copies of identity documents can be provided by a UK lawyer, a UK Banker, an authorised financial intermediary, such as an independent financial adviser, an NCCB Regulated Mortgage Broker, a certified Accountant, a Teacher, a Doctor, a Minister of Religion or a post master or sub-post master.
All of the above must be capable of being contacted by phone prior to or on the day of the auction.
If you are bidding at the Auction, we must be able to verify your identity. The following schedule of acceptable documentation shows the documentation that you must have available at the auction or when signing contracts (prior to auction) in order for us to conduct business with you.
In general we will require two forms of identification.You must allow us to photocopy this documentation for storage and file for 5 years. In respect to UK individuals we are required to verify your names and residential address and require two documents
ONE DOCUMENT FROM EACH LIST (A & B).
- Current valid signed passport
- Current valid signed UK photo-card driving licence
- A valid identity card (HM forces, police warrant card, prison officer, government or local authority issued)
- A firearm or shotgun licence
- An Inland Revenue tax notification, self assessment statement or tax demand
- A counterpart driving licence or photo-card licence where this has not been used as evidence of identity
- An household insurance certificate
- A utility bill less than three months old (not mobile phone bill)
- A council tax bill (current year)
- A council rent book showing rent paid for the last three months
- A mortgage statement (current year)
- A bank/credit card or building society statement no more than three months old
For UK Trusts, UK Corporate and Partnerships, Occupational Pension Schemes, Registered charities in England and Wales,
Local Authority or non UK individuals you should contact Clare Clark on 01603 598975 or email at Clare.Clark@sequencehome.co.uk prior to bidding at the auction to confirm documentation required by bidders.