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USA PATRIOT Act Notice/CDD/Beneficial Ownership

Is it a requirement to add/update our USA PATRIOT Act notice at CSR desks and disclosures for the CDD/Beneficial Ownership requirements, at account opening?

by Randy Carey:

No. Although some creative vendors are probably pushing that idea in order to generate some additional sales.


by Ken Golliher:

No, But rlcarey already said that, didn't he?

Appendix A contains something akin to a disclosure in the first paragraph. The people who need to see it will see it when they sign the document. No one else needs to see it. No one else cares.

Your employees' desks are cluttered enough without covering them with worthless offal generated by forms vendors.


by Veneshia Ferdinand:

No regulatory requirement! Beware of vendors trying to sell you the "CDD lobby notice".

First published on 03/25/2018

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