Onboarding friction with institutional KYC for prop firm
Anyone else hitting major headwinds with prop firm institutional KYC lately? The process for a small fund, even with a solid track record, seems to be a moving target. Document requests are often vague, turnaround times for initial review are extending, and the back-and-forth for minor details is burning significant time. Curious if this is a widespread tightening of compliance or just a few bad apples in the onboarding departments. Specifically, the proof of funds source and beneficial ownership validation seem to be the stickiest points, often requiring re-submission despite providing comprehensive initial packages.