Regulatory Alerts2017-03-02
Decision of the Tunisian Financial Analysis Commission No. 2017-03 of March 2, 2017 on Beneficial Owners
The Tunisian Financial Analysis Commission mandates that obligated financial entities implement robust procedures to identify, verify, and periodically update the beneficial owners of their clients. These measures apply during business relationship establishment, occasional transactions exceeding 10,000 dinars, or when money laundering or terrorist financing suspicions arise. The decision defines beneficial owners as natural persons who ultimately own, control, or benefit from clients, specifying distinct identification criteria for companies, non-corporate legal entities, and foreign-law trusts or earmarked estates.
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