Daniel P. Stipano discussed "Troubleshooting your CDD program: Where are we?" at the American Bankers Association Regulatory Compliance Conference
What issues have you been facing since the May 11, 2018 compliance date? Can you explain to the board the difference between customer due diligence and beneficial ownership? What do you do now with all of the information about beneficial owners? How does CIP come into play? And what’s the fifth pillar? This session helped sort through these issues and provided updates on the CDD Rule, including exams and potential legislative changes.
This session took place Sunday, June 24, 2018 3:15 – 4:30 pm and Monday, June 25, 2018 10:45 a.m. – 12:00 pm.