Common use of CLIENT VERIFICATION Clause in Contracts

CLIENT VERIFICATION. 12.1 The FSP, as part of the Barclays Group, is committed to complying with national and international laws, rules and regulations and policies to prevent criminal activities, money laundering and terrorist financing, sanctions and prohibited business activity laws and rules violations. All information provided by and concerning clients is therefore subject to verification, processing and screening and the FSP may be obliged to decline certain applications. 12.2 You hereby consent to and authorize the FSP to make such enquiries and obtain such information as the FSP considers reasonable and appropriate in order for the FSP to satisfy the regulatory obligations which the FSP is subject to. This may cause some delays in the transactions that you make and the accounts you apply for. Depending on the outcome of such enquiries, the FSP may also have to end its relationship with you. 12.3 The FSP shall not be responsible for any losses and damages suffered by you as a result of any action taken by the FSP in terms of its obligations set out in clause 12.1 and 12.