White Label Clients
26 February 2018
Monthly Notification, Saxo Bank
Please read this notice on restrictions imposed by US authorities and Saxo Bank Group and let us know if you have any questions or if you may not be able to...
Please read this notice on restrictions imposed by US authorities and Saxo Bank Group and let us know if you have any questions or if you may not be able to comply with these terms.
Pursuant to U.S. regulations issued under Section 311 of the USA PATRIOT Act, we are prohibited from establishing, maintaining, administering or managing a correspondent account for, or on behalf of:
- Banco Delta Asia or any of its subsidiaries (including, but not limited to, Delta Asia Credit Limited, and Delta Asia Insurance Limited)
- Any Burmese banking institution (excluding Myanmar bank which is granted FinCEN exceptive relief)
- Commercial Bank of Syria, including its subsidiary, Syrian Lebanese Commercial Bank
- Any North Korean (Democratic People’s Republic of Korea) banking institution
- FBME Bank Ltd., including its branches, offices or subsidiaries
- Bank of Dandong, including its branches, offices, or subsidiaries
The regulations also require us to notify you that you may not provide any of the above with access to the correspondent account you hold at our financial institution. If we become aware that any of the above are indirectly using your correspondent account, we will be required to take appropriate steps to prevent such access, including, where necessary, terminating your account.