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KYC (Know Your Customer)

Julien Fissette
Published on
October 20, 2023
Last edited on
May
X
min read
2
min read
Summary
Example H2

KYC (Know Your Customer)

Julien Fissette
Published on
October 20, 2023
Last edited on
2
min read
May
?
min read
Dictionary picture

KYC (Know Your Customer)

"Know Your Customer" (KYC) is a foundational due diligence process that verifies the identity of potential investors before any funds are exchanged.

Originally rooted in banking regulations to combat money laundering and fraud, KYC has been universally adopted in the financial sector, including venture capital.

The process often involves a comprehensive review of various documents like identity proof, address verification, and even a background check in some cases.

Failing to perform thorough KYC can expose firms to considerable risks, such as reputational damage or financial penalties for violating regulations.

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Roundtable EuVECA Manager Lux S.à.r.l. is registered with the Commission de Surveillance du Secteur Financier (CSSF) under number A3650 as manager of collective investment undertakings that wish to use the designation‘EuVECA’ as per article 14 of EU Regulation n° 345/2013 of the EU Parliament and of the Council of 17 April 2023 on European venture capital funds.
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Roundtable EuVECA Manager Lux S.à.r.l. is also registered as manager of alternative investment funds under article 3 (3) of the Act of 12 July 2013 on alternative investment funds managers.