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#2279776 - 01/12/23 08:29 PM Opening an account for a publicly traded company
Compliance Action Subscriber 1226 Offline
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Joined: Sep 2015
Posts: 198
We will be opening an acct for a publicly traded company - my understanding is we do not collect personal information on the authorized signers. - how do we identify the person is who they say they are when inquiring about the account - would appreciate any advice on opening this account

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Deposits and Payments
#2279779 - 01/12/23 09:23 PM Re: Opening an account for a publicly traded company Compliance Action Subscriber 1226
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,388
Galveston, TX
"my understanding is we do not collect personal information on the authorized signers. - how do we identify the person is who they say they are when inquiring about the account "

This all sounds like an internal procedural issue and not a regulatory one.
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#2279833 - 01/13/23 08:16 PM Re: Opening an account for a publicly traded company Compliance Action Subscriber 1226
ACBbank Offline
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ACBbank
Joined: Jul 2006
Posts: 4,349
New York City
US publicly traded companies are excluded from the definition of a "Customer" under the CIP. That doesn't mean you do not follow your normal onboarding processes.
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