Accredited Verification
Not all instruments available on our marketplace require a verified accreditation status for investment. In most cases, investors can simply attest to their accredited status at the party level. However, when dealing with instruments that utilize the Regulation D - 506(c) exemption, documented proof of your accredited status becomes a requirement. This process is known as accredited verification.
Similar to the Customer Identification Program (CIP) verification, the Party Data Model has been designed to accommodate accredited verification procedures for both individuals and complex legal entities. By embedding this functionality within the model, we are ensuring seamless and efficient compliance with the necessary regulatory requirements for certain types of investments.
{
"id": "6b4a811c-718d-46ab-849c-609000601fd3",
"party_type": "individual",
"verifications": {
"accreditation": "not_started"
...
},
"individual": {
"accredited_status": "qualified_purchaser",
"documents": [
{
"id": "497f6eca-6276-4993-bfeb-53cbbbba6f08",
"name": "Tushar Assets and Liabilities",
"description": "Tushar showing more than 5 million in investable assets",
"document_type": "accredited_verification",
"document_subtype": "assets_and_liabilities",
"document_link": "https://storage.signed.url"
}
]
}
...
}
{
"id": "6b4a811c-718d-46ab-849c-609000601fd3",
"party_type": "trust",
"verifications": {
"accreditation": "not_started"
...
},
"trust": {
"accredited_status": "qualified_purchaser",
"documents": [
{
"id": "497f6eca-6276-4993-bfeb-53cbbbba6f08",
"name": "Tushar Trust 2023 Assets and Liabilities",
"description": "Tushar showing more than 5 million in investable assets",
"document_type": "accredited_verification",
"document_subtype": "assets_and_liabilities",
"document_link": "https://storage.signed.url"
}
]
},
...
}
Accredited Verification Session
Consider a straightforward case of an individual party. When a verification process is initiated for this party, a verification session is created directly at the party level. If the verification of the individual party fails, then the verification session is also deemed unsuccessful. Subsequently, you can adjust the information at the party level or provide additional documentation to substantiate the type of verification. Thereafter, you can initiate a new verification session.
{
"id": "e8875409-6892-45ee-a9dd-b4e1c52c7922",
"verification_type": "accreditation",
"status": "not_started",
"status_error_message": null,
"status_error_code": null,
"party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
"related_sessions": [
{
"id": "db7b8c72-3e52-4697-96bb-34d4340d751b",
"verification_type": "accreditation",
"status": "not_started",
"status_error_message": null,
"status_error_code": null,
"verification_results": [],
"party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
"created_at": "2023-05-26T18:00:40.634546Z",
"updated_at": "2023-05-26T18:00:40.635203Z",
"started_at": null
}
],
"created_at": "2023-05-26T18:00:40.588428Z",
"updated_at": "2023-05-26T18:00:40.589260Z",
"started_at": null
}
{
"id": "e8875409-6892-45ee-a9dd-b4e1c52c7922",
"verification_type": "accreditation",
"status": "pending",
"status_error_message": null,
"status_error_code": null,
"party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
"related_sessions": [
{
"id": "db7b8c72-3e52-4697-96bb-34d4340d751b",
"verification_type": "accreditation",
"status": "pending",
"status_error_message": null,
"status_error_code": null,
"verification_results": [
{
"verification_subtype": "tax_w2",
"status": "pending",
"status_error_message": null,
"status_error_code": null
}
],
"party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
"created_at": "2023-05-26T18:00:40.634546Z",
"updated_at": "2023-05-26T18:00:40.635203Z",
"started_at": "2023-05-26T18:00:41.841316Z"
}
],
"created_at": "2023-05-26T18:00:40.588428Z",
"updated_at": "2023-05-26T18:00:41.841316Z",
"started_at": "2023-05-26T18:00:41.841316Z"
}
{
"id": "e8875409-6892-45ee-a9dd-b4e1c52c7922",
"verification_type": "accreditation",
"status": "approved",
"status_error_message": null,
"status_error_code": null,
"party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
"related_sessions": [
{
"id": "db7b8c72-3e52-4697-96bb-34d4340d751b",
"verification_type": "accreditation",
"status": "approved",
"status_error_message": null,
"status_error_code": null,
"verification_results": [
{
"verification_subtype": "tax_w2",
"status": "approved",
"status_error_message": null,
"status_error_code": null
}
],
"party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
"created_at": "2023-05-26T18:00:40.634546Z",
"updated_at": "2023-05-26T18:00:40.635203Z",
"started_at": "2023-05-26T18:00:41.841316Z"
}
],
"created_at": "2023-05-26T18:00:40.588428Z",
"updated_at": "2023-05-26T18:00:41.841316Z",
"started_at": "2023-05-26T18:00:41.841316Z"
}
{
"id": "e8875409-6892-45ee-a9dd-b4e1c52c7922",
"verification_type": "accreditation",
"status": "failed",
"status_error_message": null,
"status_error_code": null,
"party_id": "1c46a6df-dcce-4ebb-af5b-b3e18d230d6e",
"related_sessions": [
{
"id": "db7b8c72-3e52-4697-96bb-34d4340d751b",
"verification_type": "accreditation",
"status": "failed",
"status_error_message": null,
"status_error_code": null,
"verification_results": [
{
"verification_subtype": "tax_w2",
"status": "failed",
"status_error_message": "Missing 2 years of W2",
"status_error_code": "missing_w2"
}
],
"party_id": "d09192f2-5008-4062-8851-78afd7e5a13c",
"created_at": "2023-05-26T18:00:40.634546Z",
"updated_at": "2023-05-26T18:00:40.635203Z",
"started_at": "2023-05-26T18:00:41.841316Z"
}
],
"created_at": "2023-05-26T18:00:40.588428Z",
"updated_at": "2023-05-26T18:00:41.841316Z",
"started_at": "2023-05-26T18:00:41.841316Z"
}
Accredited Verification Flow
Verification Options
Income Verification
License Verification
Updated about 1 year ago