Yes, but to open a new account after 10/03, you would have to verify that you previously had gathered the required information under the existing customer exemption.
Last edited by rlcarey; 05/10/17 01:00 PM.
Sec. 1020.100 Definitions.
Refer to §1010.100 of this Chapter for general definitions not noted herein. To the extent there is a differing definition in §1010.100 of this Chapter, the definition in this Section is what applies to Part 1020. Unless otherwise indicated, for purposes of this Part:
(a) Account. For purposes of §1020.220:
(1) Account means a formal banking relationship established to provide or engage in services, dealings, or other financial transactions including a deposit account, a transaction or asset account, a credit account, or other extension of credit. Account also includes a relationship established to provide a safety deposit box or other safekeeping services, or cash management, custodian, and trust services.
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