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Mandatory Compliance: Customer Due Diligence Requirements (Beneficial Owners)

FinCEN is issued final rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The rules contain explicit customer due diligence requirements and include a new requirement to identify and verify the identity of beneficial owners of legal entity customers, subject to certain exclusions and exemptions. Read more here

  • May 11, 2018
  • Time: All Day
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