Tag: due diligence

August 12, 2016 BY Mike Fox

FinCEN issues final due diligence rules and AML procedures for FCMs and IBs

The Financial Crimes Enforcement Network (FinCEN) today issued final rules relating to customer due diligence requirements that are applicable to futures commission merchant (FCM) and introducing broker (IB) Members. Under the new rules, FCM and IB Members will be required to identify and verify the identity of beneficial owners of legal entity customers. The final…

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July 14, 2016 BY Valentina Kirilova

ASIC reports on review of due diligence practices in IPOs

An ASIC review of issuer due diligence in initial public offerings (IPO), has found a close correlation between defective disclosure in a prospectus and poor due diligence. Due diligence practices in initial public offerings includes this and other findings and provides ASIC's recommendations for good practice due diligence for issuers and directors. In the context…

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