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Reg. GG: New Business Profile Sheet for New Acct.

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Question: 
Is it required that existing business accounts have a new business profile sheet each time a new account is opened in regards to Regulation GG?
Answer: 

Your "new business profile sheet" is an internal document. No one here knows what it looks like or when your bank requires it. Your Regulation GG compliance can be documented by 1) due diligence questions asked by you or 2) a certification signed by the client. Most banks chose the latter method.

First published on 08/13/2017

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