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FinCEN Clarifies Expectations Regarding Beneficial Ownership Guidance Released in Conjunction with Financial Regulators

News release: “The Financial Crimes Enforcement Network (FinCEN) today issued guidance, Guidance on Obtaining and Retaining Beneficial Ownership Information, which clarifies and consolidates regulatory expectations for obtaining beneficial ownership information for certain accounts and customer relationships. FinCEN worked closely with its regulatory partners to develop the guidance and is issuing it jointly with the Federal banking agencies and the Securities and Exchange Commission.”

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