Checklist: 10 Ways to Ensure Your Organization is UBO Compliant
As of May 2018, financial institutions now need to comply with new U.S. Treasury Department rules applying to any parties qualifying as “ultimate beneficial owners” (UBOs).
UBO
Ultimate beneficial owner reporting could muddle bank-client relationships
Starting in May 2018, complying with the Customer Due Diligence (CDD) rule will require a financial institution to change how it collects customer data.