Daniel P. Stipano discussed "A first anniversary: Assessing the CDD final rule’s first year" at a ACAMS webinar
The CDD Final Rule, which codified new regulations for determining and verifying beneficial owners on new accounts, went into effect on May 11, 2018. For many in the compliance field, the first year has been a search for solutions as financial institutions put planning into practice and implemented the rule — and grappled with issues that sometimes defied easy answers. This webinar took a look back at the CDD Final Rule’s first year, examining its impact so far, and analyzing its influence on risk management practices going forward.
- Analyzing practical solutions to manage unique Final Rule challenges including building staff awareness, creating training programs and defining criteria for triggering events
- Detailing commonplace solutions for establishing and verifying beneficial ownership to outline practical impacts on compliance infrastructure and risk management models
- Reviewing best practices for documenting Final Rule compliance policies to mitigate risks of examination-related issues and concerns