April 25, 2022

Production deployment date: 04/25/2022.


Regulated Entity Onboarding

Implemented a new Regulated Entity Onboarding process service that streamlines onboarding for regulated entities. The types of entities below qualify for Regulated Entity Onboarding:

  • Alternative Trading System
  • Bank
  • Broker-Dealer
  • Crowdfunding Portal
  • Investment Company
  • Registered Investment Advisor The following information will no longer be requested for regulated entities:
  • Proof of formation
  • Proof of address
  • Beneficial ownership How to onboard regulated entities:
  • Cloud: As part of account creation flow, select entity subtype.
  • API: Use the new subtype field when creating entity contact. Note: PT Compliance will verify the type of entity before account approval.

Other Compliance Enhancements:

  • The account questionnaire from the account onboarding process in cloud has been removed (also not required in API)
  • Removed contact beneficial owner from entity account
    • New functionality allows Integrators to remove the entity beneficial owner via API, and cloud; integrators must have another person assigned to an entity before removing the beneficial owner.

Crypto custody

Renamed ethereum_assets to token_assets

This is part of the effort to correctly re-classify the digital assets. Our data model included an object called “Ethereum Asset” containing the details of token assets in the ERC20 network which was the only network we supported until a few months back. Since we have expanded the support for other blockchains with tokens like BSC, Solana, Polygon, and Stellar, we have renamed this object in our data model to reflect this.