Institution onboarding (US) document requirement
Institutional account onboarding required documents
As part of the account creation process for a Bullish Institutional account, we require customers:
to provide additional information on their organization and
complete our identity confirmation process.
Below are the templates and examples outlining the required information that customers must provide as part of the institutional onboarding process.
Template board resolution
I, the undersigned, being a director of [legal entity’s name] (the "Company"), certify that the following resolution of the board of directors of the Company was made by a duly constituted quorum on [date] in [location].
IT WAS RESOLVED that:
One or more accounts be opened by the Company with Bullish US Operations LLC
The following individual(s) be and are hereby authorized to act on the Company’s behalf as "Authorized Representative(s)" in relation to the account(s), with authority to act on behalf of the Company , including but not limited to, entering into agreements with Bullish US Operations LLC, creating the account(s) and acting as the main operator of the account(s) which includes making deposits and withdrawals of funds/ assets to and from the account.
The appointed Authorized Representative(s) will have full access to Bullish US Operations LLC’s services, full control of the account(s) and authority to appoint and remove individuals to operate and trade using the account(s):
a. Name: [ ]
b. Title: [ ]
The following individual(s) be and are hereby authorized to operate the account(s) as "Authorized Trader(s)":
a. Name: [ ]
b. Title: [ ]
The directors of the Company be and are hereby authorized to perform all acts necessary or desirable to carry out the intent of this resolution.
[Signature]
[Printed Name]
[Date]
Template ownership and control structure (organizational) chart
The organizational chart should identify all shareholders, including all intermediate layers of shareholders with direct or indirect ownership, control or voting rights of more than 25% of the entity up to the Ultimate Beneficial Owner(s) ("UBO")* level.
For each intermediate layer of ownership/shareholders, the organizational chart to include:
Full legal Name of companies/ individuals;
Ownership percentage; and
Place of Incorporation/ Place of residency.
The organizational chart should be prepared by the company's secretary, lawyers, accountant, or other company’s senior management who can verify that the chart being provided is the correct and accurate representation of the company's organizational structure.
The person/individual who prepared the organizational chart to include his/her full name, role/capacity (internal or external role) and date the document.
*A UBO is any individual who exercises ownership or control through direct or indirect ownership of more than 25%, voting rights or ownership interest of the business entity. Depending on the country of incorporation, we may request disclosure of shareholders and UBOs with direct or indirect ownership, control or voting rights of more than 10% of the entity.
Below illustrates an organizational chart with details of ownership and control structure:
Example 1: Simple structure
This represents the current structure of [Company Name - ABC Limited] |
|---|
Details of the individual preparing the ORG Chart |
Full name |
Role/ Capacity (internal or external role) |
Date of document (dd/mm/yyyy) |
Example 2: Multi-layered organizational structure
This represents the current structure of [Fund Name - ABC Fund] |
|---|
Details of the individual preparing the Fund Structure Chart |
Full name |
Role/ Capacity (internal or external role) |
Date of document (dd/mm/yyyy) |
Visit bullish.com/legal/us/ for important information and risk warnings.
Bullish US Operations LLC, is licensed by FinCEN to operate as a money service business, by the New York Department of Financial Services to engage in Virtual Currency Business Activities (0000046, NMLS:2383000)