Episode 37

Ed Burdzinski, Of Counsel at Spencer Fane LLP.

Ed Burdzinski, Of Counsel at Spencer Fane LLP, dives into the history of the beneficial ownership rules and the Corporate Transparency Act. He contrasts the beneficial ownership and CDD rules banks currently operate under with FinCEN’s new final Reporting Rule as well as the current status of the proposed Access Rule, and yet to be issued Conforming Rule to conform the current CDD to the Corporate Transparency Act requirements. Ed discusses banks continuing to follow the current CDD rules until FinCEN releases the final Access Rule and the Conforming Rule..

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