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12 USC 1952

Helps regulators and law enforcement identify who owns and controls uninsured financial institutions when that information is important for oversight and investigations.

Rule Overview

Jurisdiction: United States

Regulator: US Dept. of Treasury

Topic: Beneficial Ownership Disclosure

12 USC Section 1952
Overview
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Further Reading
  • Allows the Secretary of the Treasury to require certain uninsured banks and financial institutions to report information about their:
    • ownership;
    • control;
    • management; and
    • any changes in ownership, control, or management.
  • The reporting requirement applies only when the Treasury determines the information would be highly useful for criminal, tax, or regulatory investigations or proceedings.
  • The specific reporting requirements are established through Treasury regulations.

Latest News

More on US Bank Secrecy Act s1010
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Further Reading

OCC Bulletin 2018-12, Bank Secrecy Act/Anti-Money Laundering: Customer Due Diligence and Beneficial Ownership Requirements for Legal Entity Customers – Overviews and Examination Procedures Go to https://www.occ.gov/news-issuances/bulletins/2018/bulletin-2018-12.html