Once related parties have been added to an investing entity, you can manage their identity verification status directly from the investing entity's related party tree. This article covers how to send verification requests, monitor verification status, and manage exemptions for individual related parties.
Note: Identity verification is only available for individual related parties, not entity related parties such as companies, trusts, or partnerships.
Step 1: Send a Verification Request
To send an Electronic Identity Verification (EIV) request, navigate to the related party tree on the investing entity's Related Parties tab:
In the navigation pane, select Investing Entities
Select the relevant investing entity
Go to the Related Parties tab
Click the ellipsis (...) next to the individual related party
Select Request verification
A popup will appear displaying the related party's contact details:
Review the email address and mobile number to ensure they are correct
Configure notification preferences (email and/or text message)
Click Confirm to send the verification request
The related party will receive an email and, if enabled, a text message with a secure link to complete their identity verification.
Note: Ensure the contact details are accurate before sending, as the verification link will be sent to these addresses.
Step 2: Monitor Verification Status
After sending the request, you can monitor the verification status from the related party's record:
In the navigation pane, select Related Parties
Search for the related party and click into their record
Go to the KYC tab to view the current verification status
Status updates automatically once the related party completes their verification. You can view details of any completed verification checks from this tab.
Verification status applies across all investing entities that the related party is linked to. Once verified, they do not need to complete verification again for other investing entities.
What To Do If Contact Details Are Missing
If contact details are not available for related parties, you can request them from the key contact:
In the navigation pane, select Investing Entities
Choose the relevant investing entity
Go to the Related Parties tab
Click Request All Contact Details
Confirm to send an email to the key contact, prompting them to provide the required information
Once the key contact provides the details, you can then send verification requests to each related party.
Exempt Related Parties
Some related parties may be exempt from identity verification. You can mark a related party as exempt when adding them to an investing entity or by editing their relationship:
From the investing entity's Related Parties tab, click the ellipsis (...) next to the related party
Select Edit
Toggle Exempt from IDV on
Add a note explaining the exemption if required
Click Confirm
Note: Exemption status is specific to each investing entity relationship. A related party may be exempt for one investing entity but still require verification for another.
Manually Verifying Identity
If you have verified a related party's identity through other means (such as in-person verification or existing documentation), you can manually mark them as verified:
Open the related party's record
Go to the KYC tab
Click Manually verify identity
Complete the required fields
Click Confirm
PEP and Sanctions Screening
When you send an Electronic Identity Verification (EIV) request, Caruso automatically screens the related party against Politically Exposed Person (PEP) and international sanctions lists.
Results appear in the PEP / Sanctions section of the KYC tab, showing:
Result date
Match confidence score
Status (Pending, Accepted, or Rejected)
If a potential match is flagged, review the details and mark it as either Accepted or Rejected based on your assessment.
Note: Caruso's screening uses data from DOW Jones Risk & Compliance. Ultimate responsibility for AML/KYC compliance remains with the fund manager.
Related Articles
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.