Certain US regulations governing securities and tax legislations have cross-border applicability for certain securities transactions. To render services in connection with such transactions, non-US ING enterprises are expected to comply with all the procedures that apply in particular to US persons.
As an international financial institution, the ING Bank regularly undertakes economic, strategic and risk reviews of all of its operations. In conclusion of these reviews, a policy decision has been adopted to cease provision of certain securities-related services to US persons by non-US ING Bank enterprises.
Accordingly, effective as of November 10, 2009, we will be unable to serve you in connection with the purchase of mutual funds, treasury bills, government bonds, Eurobonds, Liquid Account, derivatives transactions, Private Pension Systems, life insurance and any other vehicle of investment characterized as a security in the US securities and tax legislations.
To minimize the impact of this policy decision on our customers, please be advised that any active Liquid Accounts will be
cancelled, as purchase of new mutual funds is precluded, and we will provide all the assistance should you wish to liquidate your securities without charge or to transfer the same to other accounts that you will/may have opened with other institutions. Moreover, this will be without prejudice to any of your rights and obligations arising from our prior services.
Please remember that this policy solely applies to transactions involving the above types of securities, and other financial services offered by the ING remain unaffected. Our other banking services remain entirely available.
Who is a US person
Any natural person residing in the USA.
Any person residing outside the USA who is the members of an identifiable group of US citizens (e.g., army personnel or foreign mission staff) and who is in the target customer group of ING for securities transactions.
Any persons who identifies himself as a natural person residing in the USA, or a member of an identifiable group of US citizens residing outside the USA, and who use USA contact details for opening an account or for other verification purposes.
Any person who was not in the USA during contact with the ING but who communicated his instructions through a USA-based investment adviser or administrator, or their representatives residing in the USA. ii) Any person who makes, accepts or delivers payments or collects and procures information in connection with the securities in the USA.
Of US citizens or US Green Card holders, those who are not in the categories described above in paragraphs a through d have the status of a natural US persons.