Mandatory Compliance: Beneficial Ownership Requirements for Automatic Rollovers or Renewals
On August 8, 2018, FinCEN extended the limited relief below an additional 30 days, up to and including September 8, 2018. Read more here.
FinCEN issued this ruling to provide a 90-day limited exceptive relief to covered financial institutions from the Beneficial Ownership Requirements with respect to certain financial products and services that automatically rollover or renew (i.e., certificate of deposit (CD) or loan accounts) and were established before the Applicability Date, May 11, 2018. This exception begins, retroactively, on May 11, 2018, and will expire on August 9, 2018. Read more here.
- September 9, 2018
- Time: All Day
Other events in Mandatory Compliance
- 08/19/2019: Mandatory compliance date pending court stay: Payday, Vehicle Title, and Certain High-Cost Installment Loans
- 04/16/2020: Comment Period: Main Street Lending Program
- 05/15/2020: Deadline: SBA Paycheck Protection Program Loan Review
- 05/18/2020: Interim Final Rule: Deadline for PPP Limited Safe Harbor
- 11/19/2020: Compliance Date: Payday Mandatory Underwriting Provisions
- 01/01/2021: Mandatory Compliance Date: Changes to Simplify Volcker rule
- 07/12/2021: Mandatory Compliance Date: Electronic Trading Risk Principles.
- 01/01/2022: Mandatory Compliance Date: Unsafe and Unsound Banking Practices: Brokered Deposits and Interest Rate Restrictions
- 02/03/2022: Mandatory Compliance Date: Removal of Transferred Office of Thrift Supervision (OTS) Regulations Regarding Nondiscrimination Requirements