Tattvam Capital Markets (the “Company”) is authorized and regulated by the Financial Services Commission of Mauritius (“FSC”). The Company is committed to complying with its legal and regulatory responsibilities in relation to Anti-Money Laundering & Counter Terrorist Financing (AML/CFT) and has no appetite for non-compliance. The Board of the Company is responsible for ensuring that this Client Onboarding Process is revised and updated from time to time to be in line with any legislative changes in Mauritius in particular the Mauritius AML Legislations.
This Client Onboarding Process is a mandatory requirement for the Company and applies to all end clients which will be onboarded, be they retail or corporate. It articulates a set of minimum standards and requirements that meet and aim to exceed regulatory and legislative obligations and the guidance provided by the FSC.
The Clients are sourced from its target market and are known to the UBO.
Tattvam Capital Markets will NOT deal with or provide any services or products to any of OFAC (Office of Foreign Assets Control) sanctions countries, to the countries which are of non-cooperative jurisdiction or have been subject of FATF Public Statements.
The Onboarding Team / Backoffice team liaise with prospective clients. All clients are requested to complete the Questionnaire in the form of a Client Application Form along with the Client Agreement and to submit the Customer Due Diligence information (“CDD”) as per the policy of the Company. If the Client refuses to provide the information or such information as may be required, when requested, or appears to have intentionally provided misleading information, the Company will not proceed with opening an account for the client.
Upon obtaining the Client Application form, client agreement and KYC/CDD Documents. The Onboarding Team / Backoffice team refers the client to the Compliance department
The Compliance Analyst performs screening on each client. Upon successful approval of client by the Compliance Analyst, the Backoffice team refers the client to the dealing team for opening of client trading account in MetaQuotes trading Software.
The Onboarding Team / Backoffice team shares the client trading account credentials with the respective clients. Each client has its own ID and password whereby he can access his account for trading. All trades are executed by the client and the client’s account is updated automatically.
All clients fund their trading accounts through bank transfers. SBM Bank (Mauritius) Ltd (SBM) is the primary bank account and client funds are accepted in the client-segregated accounts. All withdrawals are also processed through the client-segregated accounts.
The dealing team manages the entire trading operations and monitors the trade all clients in case of any margin requirements or any specific request, the Onboarding / Backoffice team manages the communications with the clients.
