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AML

AML

Overview

MERJ EXCHANGE and its Members must adhere applicable law for the prevention of money laundering and terrorist financing. MERJ, the Government of Seychelles and our regulators (Financial Services Authority and Central Bank of Seychelles) are committed to the prevention of money laundering and terrorist financing. Seychelles AML laws and practices are in line with standards established by the Financial Action Task Force, the global standard setting body for prevention of money laundering and terrorist financing. MERJ group companies are “reporting entities” in terms of the Anti-Money Laundering Act.

Know Your Client (KYC)

Direct participants of MERJ EXCHANGE, MERJ CLEAR, MERJ DEP or MERJ Primary must provide information and supporting documents to establish their identity and permanent address. Non-individual clients must provide supporting documents including documents from the “beneficial owners”. In each case, the required documents and information are in line with the requirements established by the Government of Seychelles and MERJ regulators (Financial Services Authority).

Source of Funds

Direct participants of MERJ EXCHANGE, MERJ CLEAR, MERJ DEP or MERJ Primary may be requested to provide information and supporting documents to establish the lawful source of any funds or assets introduced into the MERJ ecosystem.

Upon introduction of digital assets, MERJ DEP plans to use a third-party application to scan each proposed wallet to be added by a participant for the purposes of depositing or withdrawing digital assets (i.e. cryptocurrencies and utility tokens). MERJ DEP may accept a proposed wallet address or not based on this analysis and any further communication and supporting documentation provided by the participant at its sole discretion. The integrity of the MERJ ecosystem is of paramount importance to MERJ.

For information relating to regulatory activities by MERJ CLEAR or MERJ DEP (i.e. clearing, settlement, depository/registry) please see the "Post Trade" section.

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Member Regulation

Learn more about the MERJ EXCHANGE Member Regulation

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