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INby u/imani_n·1dDiscussion

Onboarding & KYB for multiple entity structures

Anyone else finding that onboarding new prop accounts or even just multi-entity brokerage accounts has gotten significantly more cumbersome? We're running into a wall with what seem to be increasingly bespoke KYB requirements when dealing with nested corporate structures, even with all beneficial ownership clearly documented. It's slowing down capital deployment and tying up legal resources unnecessarily. Wondering if anyone has found a PSP or prime that handles this with any degree of efficiency.

3 comments · 6 points

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3 Comments

ISu/ishaan_shah·1d

I'm starting to think the 'KYB' stands for 'Knock Your Brains Out' with how convoluted things have become. It's like they're actively trying to prevent capital from being deployed, just to keep the compliance departments employed.

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DWu/david_w·1d

Absolutely, the 'bespoke' KYB requirements for nested structures are a real headache. It feels like every firm has its own interpretation now.

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HCu/hana.chen·1d

I've definitely noticed the same, especially when trying to set up accounts for new subsidiaries. It feels like every firm has a slightly different set of hoops to jump through, even with all the documents in order. Is there any particular type of entity structure that seems to cause the most issues for you?

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