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Compliance Tools Updated to reflect FinCEN’s Exceptive Relief on Beneficial Ownership Collection
March 1, 2026
Summary:FinCEN’s Exceptive Relief (FIN-2026-R001), issued February 13, 2026, eliminates the requirement for banks to obtain a new beneficial ownership certification each time an existing legal entity customer opens an additional account, provided the information was previously collected in accordance with Customer Due Diligence (CDD) requirements and remains accurate. Updated Tools In response, we have updated…