Alert: BSA Changes! FinCEN’s New Exceptive Relief: What It Means for Beneficial Ownership

This order changes when institutions must identify and verify the beneficial owners of legal entity customers, limiting the requirement to specific situations. Join this timely session to understand what this means for your institution, which policies and procedures must change, and how to maintain BSA compliance under the revised FinCEN guidance. Ensure your practices align with the latest federal expectations.

On February 13, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order granting exceptive relief to covered financial institutions from certain requirements under FinCEN’s Customer Due Diligence Requirements for Financial Institutions rule (the “2016 CDD Rule”). The order excepts covered financial institutions from the requirement to identify and verify the beneficial owners of legal entity customers at each new account opening, except in certain circumstances. Join this webinar to learn what you need to do to get into compliance and what changes should be made to your policy and procedures for BSA Customer Due Diligence. The change in beneficial ownership is the second in a series of 3 items to modernize BSA/AML rules.  The first was the SAR FAQ update, the second is this beneficial ownership rule, and the third is the new proposed AML rule.  During this webinar, the focus will be on beneficial ownership rule changes, but will include a brief review of the other two changes to BSA.

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