US: AML/BSA COMPLIANCE DEADLINE APPROACHING FOR PRIVATE TRUST COMPANIES

On 11 February, an article from McDermott Will & Emory reminded one that on 15 September 15, FinCEN issued a final rule that requires state chartered non-depository trust companies, including private trust companies (PTC), to implement AML programmes that comply with the Bank Secrecy Act (BSA).  PTC have until 15 March to comply with the rule.

https://www.mwe.com/insights/aml-bsa-compliance-deadline-approaching-for-private-trust-companies/

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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