September 28, 2022

US: Final rule on customer due diligence requirements issued

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By Connie M Friesen, Joel D Feinberg & David E Teitelbaum Contributed by Sidley Austin LLP From International Law Office Introduction Background Beneficial owner requirements for legal entity customers Identification and verification requirements Use of beneficial ownership information Record keeping Reliance on another financial institution Comment Introduction On May 11 2016 the Financial Crimes Enforcement Network (FinCEN) published a […]