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FinCEN Issues Technical Corrections to Customer Due Diligence Final Rule

October 02, 2017 / Source: FinCEN

FinCEN is making minor, non-substantive, and technical corrections to the final rule regarding Customer Due Diligence, which was published in the Federal Register on Wednesday, May 11, 2016. The final rule relates to certain customer due diligence standards applicable to covered financial institutions, defined as banks, brokers or dealers in securities, mutual funds, and futures commission merchants and introducing brokers in commodities. As published, the final rule contains technical errors that could cause confusion if not corrected.
Federal Register Notice: