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#2138221 - 07/14/17 07:50 PM CTR Exempt an insurance co that offers annuities?
Daisy Doodle Offline
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Southern U.S.
Would this make them a financial or investment advisory service?

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#2138241 - 07/14/17 08:48 PM Re: CTR Exempt an insurance co that offers annuities? Daisy Doodle
Elwood P. Dowd Offline
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Elwood P. Dowd
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#2138252 - 07/14/17 09:32 PM Re: CTR Exempt an insurance co that offers annuities? Daisy Doodle
Daisy Doodle Offline
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Southern U.S.
So, if I'm reading this verbiage correctly, the Bank Secrecy Act defines insurance company as a financial institution, but the CTR reg does not, and the opinion here came down on the side of the CTR definition?

Did I get that right? We can feel comfortable exempting an insurance company?

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#2138266 - 07/14/17 11:52 PM Re: CTR Exempt an insurance co that offers annuities? Daisy Doodle
Elwood P. Dowd Offline
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Elwood P. Dowd
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Posts: 21,939
Next to Harvey
Summary:

Because insurance companies do not fall within the regulatory definition of
“financial institution,” they are eligible for exemption.
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