JD Supra

Customer Identification Program Requirements for Investment Advisers

On May 13, the Securities and Exchange Commission (SEC) and the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) jointly proposed to require that SEC-registered investment ...
The Daily News Online

Customer Identification Program vs. Know Your Customer: What’s the Difference?

Financial institutions operate in an environment where trust, compliance, and fraud prevention are inseparable. To protect the financial system from money laundering, terrorist financing, and identity ...
JD Supra

FinCEN (and SEC) Propose New Customer Identification Program Rule With Minimal Expected Impact on Private Fund Sponsors

On May 13, 2024, the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Treasury Department, and the Securities and Exchange Commission (SEC) proposed a joint rule (the Proposed ...
American Banker

Updated customer identification rules are long overdue

Modern customer identification regulations are not only outdated, but actually contribute to a rise in identity crimes. New threats posed by identity fraud today have made the federal Customer ...
Insurancenewsnet.com

Request for Information and Comment on Customer Identification Program Rule Taxpayer Identification Number Collection Requirement

Written comments on this RFI are welcome and must be received on or before May 28, 2024. ADDRESSES: Comments may be submitted by any of the following methods: * Federal eRulemaking Portal: https://www ...