Trusts, nominees and fiduciaries
21. In addition to the identification documentation listed under 'corporate entities' (Paragraphs 17 to 20 above), the following information and documentation should be obtained:
a. identity of any settlor, the trustee and any principal controller who has the power to remove the trustee, as well as the identity of the Beneficial Owner;
b. a certified copy of the trust deed, to ascertain the nature and purpose of the trust; and
c. documentary evidence of the appointment of the current trustees.
22. A Relevant Person should ensure that it is advised about any changes concerning the individuals who have control over the funds, and concerning the Beneficial Owners.
23. Where a trustee, principal controller or Beneficial Owner who has been identified is about to be replaced, the identity of the new trustee, principal controller or Beneficial Owner should be verified before they are allowed to exercise control over the funds.