Thursday
Jul 5
2018

Determining a Legal Entity for Purposes of Beneficial Ownership

Registration Options & Pricing

Please select your membership status.


Recorded Webinar Includes

  • Recording of the Live Webinar
  • Available 6 business days following Live date
  • Available for 6 months following Live
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your credit union
  • Presenter’s contact info for follow-up
150+
Webinars
Available
100%
Satisfaction
Guaranteed

9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

FinCEN's beneficial ownership rules, effective May 11, 2018, require your institution to maintain written procedures to identify and verify the beneficial owners of legal entities that open accounts at your institution. The new rules specifically define what types of businesses are considered legal entities and outline a two-prong test for determining beneficial ownership. This webinar will clearly explain, with examples, which entities are covered by the rules and define the specific documents needed to properly identify and verify beneficial owners.

Continuing Education:   Attendance verification for CE credits upon request

HIGHLIGHTS

  • Learn what constitutes sufficient due diligence under the new rules
  • Explanation of each type of legal entity covered by the new rules and practical examples of the information needed to identify and verify them
  • Required tests to determine beneficial ownership and examples of the information needed to identify and verify them
  • When can you rely on information and documentation already contained in your records?
  • Sample provisions to add to your Certification of Beneficial Ownership to reduce your administrative burden on automatically renewable accounts

  • TAKE-AWAY TOOLKIT
    • Official Certification of Beneficial Owner[s] form published by FinCEN
    • Additional provisions to the Certification of Beneficial Owner[s] form for automatically renewable accounts
    • Recent FAQs published by FinCEN
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

DON'T MISS THIS RELATED WEBINAR!

"Newly Released Guidance on CDD Requirements Effective May 11, 2018: FinCEN FAQs"
Monday, April 23, 2018

WHO SHOULD ATTEND?

This informative session will be useful to all deposit operations personnel, account service representatives, compliance personnel, auditors, attorneys, and managers.

 

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

MEET THE PRESENTER

Spencer Fane LLP
You might be interested in:

We provide credit union webinars on compliance, lending, regulations, security, operations, new accounts, collections, fraud, security & other topics. For more information on credit union education and online training opportunities, join our mailing list.