Regulatory Alerts2018-08-08
Extension of Limited Exception from Beneficial Ownership Requirements for Legal Entity Customers of Certain Financial Products and Services with Rollovers and Renewals
The Financial Crimes Enforcement Network (FinCEN) extends a limited exception from Beneficial Ownership Rule obligations for legal entity customers holding certain financial products established before May 11, 2018. This 30-day extension applies to rollovers and renewals of certificates of deposit or loan accounts and runs through September 8, 2018. The agency granted this relief to allow additional time to determine the appropriateness of a further exception for these specific products and services.
Share