PETILLION is committed to comply with the rules on the prevention of money laundering and terrorist financing laid down in EU Directive 2015/849 and the Belgian law of 18 September 2017.
In accordance with these regulations, our lawyers are required to take precautions when conducting specific tasks or transactions for their clients, namely when they are asked to:
i) Assist a client in the preparation or performance of transactions in relation to:
- The purchase or sale of real estate or companies;
- The management of a client’s money, securities or other assets;
- The opening or management of a client’s bank-, savings or securities account
- The organisation of asset contribution necessary for the establishment, exploitation or management of companies;
- The establishment, exploitation or management of fiduciaries or trusts, companies, foundations or comparable entities.
ii) Act in the name of and for the account of the client in any financial transaction or transaction of real estate.
In such instances, the necessary precautions include the verification of the identity of the client, their agent(s) and/or ultimate beneficial owner(s) (UBO). This verification requires that documentary proof of identity is collected and retained by PETILLION before and during client relations, and up to ten years after the ending of the relations. In case a potential client does not cooperate in the provision of identification information and proof, PETILLION is not allowed to act for or enter into business relations with the person or entity.
Other anti-money laundering commitments of PETILLION, such as regarding its internal organisation, persistent duty of vigilance and notification obligations are conducted in accordance with PETILLION’s anti-money laundering policy.