Anyone else finding KYC/AML processes significantly more cumbersome lately, especially for new prop firm accounts or institutional liquidity providers? The documentation requests seem to be getting more granular, extending onboarding timelines considerably. Curious if firms are seeing similar trends or if it's just my recent experience.
Definitely seeing a similar trend. The level of detail now required often feels like overkill for established entities, and it certainly slows down what used to be a quick setup process.
It's like they're trying to prove you don't exist until you've provided your great-aunt's maiden name and a lock of hair. Definitely seeing the same, especially when trying to get set up with new providers.
It's definitely not just you. The scrutiny has increased across the board, especially post-FTX. Expect this to be the new normal for a while; compliance departments are just covering their bases.