Controlling Parties

Controlling parties of an entity record business relationships between itself and a related entity. They can be used to build a structure detailing the subject entity's shareholders, directors, underlying clients, or third party recipients of funds. Each subsequent entity may in turn have its own list of controlling parties.

This structure informs relationships about which entities relate to the customer, and therefore which need consideration in a relationship review.

Since an entity can appear in many contexts in Proofdesk, it's possible to engage in a relationship with multiple entities in a controlling party structure. This means that any structure built out from previous relationships carries when engaging a related entity, and additions to the structure will be reflected in the original relationship if applicable.

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Anatomy

A subject entity's controlling parties are each forms that describe a controlling party relationship between itself and the related entity.

The form keeps the following details about a controlling party:

• Controlling Party Type: The nature of the related entity's relationship to the subject entity eg: shareholder, director etc...

• Shareholding Percentage: The stake the related entity has in the subject entity.

• Start Date: The date the relationship started

• End Date: The date the relationship ended if applicable

• Additional information: Free text input for any additional details

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Controlled Parties

Controlled parties is a view of every entity where the subject entity is a controlling party. While a controlling party describes the subject entity's shareholders and directors etc... controlled parties describes the subject entity's shareholdings and directorships etc...

In Proofdesk it's only ever necessary to define controlling parties, the same definition will show as a controlled party on the controlling party entity.