A bureau of the U.S. Treasury Department will soon revisit a rule that for more than seven years has required financial institutions to identify the true owners of any legal entities they serve, a senior regulator told attendees of The Assembly Las Vegas on Tuesday. Since May 2018, the customer due-diligence rule, or CDD rule, has required banks and other financial services companies to collect the names, birthdates, addresses and other details of any person who owns at least 25 percent of any legal entity to which they provide services, or, barring that, anyone who exercises "significant" control over that...
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