Publications

March 26, 2010

Author:  Cory D. Childs

The Financial Crimes Enforcement Network (FinCEN) recently issued new guidance to financial institutions regarding certain customer relationships, which was co-signed by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Securities and Exchange Commission.  The guidance’s purpose was to clarify “regulatory expectations for obtaining beneficial ownership information for certain accounts and customer relationships.” 

Download this Mitchell Williams E-Brief for a “plain English” summary of the guidance. It is not a substitute for the guidance and you should refer to the guidance to answer any question about what its expectations are.

DOWNLOAD: Click Here

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