- Identity-verification explanation now reads in plain language
- Old wording implied a specific regulatory requirement, which wasn't accurate
- The actual documents and checks required are unchanged
The explanation shown during identity verification on sign-up now reads simply: we confirm who you are before trading starts, to protect your account. It replaces wording that referenced a specific regulatory requirement, which wasn't accurate, since CFIN is not itself a regulated financial firm.
Why it matters
Identity verification exists to make sure the person controlling an account is actually who they say they are, protecting you from someone else gaining access to your account. Saying that plainly is both more honest and more reassuring than legal-sounding shorthand.
What you need to do
Nothing new is asked of you during verification — only the explanation of why it's needed has changed.
In detail
- The new explanation: "We confirm who you are before trading starts, to protect your account."
- This replaces earlier wording referencing a specific regulatory requirement, which CFIN, as an unregulated firm, should not have implied.
- The actual documents and checks required during verification are unchanged.
- This protects you specifically against someone else being able to register or control an account using your details.
An ongoing review
We'd rather describe a step honestly in plain words, even if that sounds less formal, than borrow language implying a kind of regulatory oversight CFIN doesn't have.
This sits alongside a broader, ongoing review of wording across the product wherever it had drifted toward sounding more official or binding than it actually is — if you spot another example, we'd genuinely like to know.