https://www.taxtmi.com/news?id=4600 Rule 9(1A) mandates that banks and financial institutions identify and verify the natural person who ultimately owns or controls a client. For juridical persons this entails identifying persons with controlling ownership interests, persons exercising control by other means, or, if none identified, the senior managing official; ownership-threshold criteria are specified. For trusts, identification covers settlor, trustee, protector, beneficiaries with a specified minimum interest and any natural person exercising ultimate control. Listed companies and their majority-owned subsidiaries are exempt from identifying individual shareholders or beneficial owners. en-us Mon, 28 Jan 2013 18:03:26 +0530 Mon, 28 Jan 2013 18:03:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4600 Rule 9(1A) mandates that banks and financial institutions identify and verify the natural person who ultimately owns or controls a client. For juridical persons this entails identifying persons with controlling ownership interests, persons exercising control by other means, or, if none identified, the senior managing official; ownership-threshold criteria are specified. For trusts, identification covers settlor, trustee, protector, beneficiaries with a specified minimum interest and any natural person exercising ultimate control. Listed companies and their majority-owned subsidiaries are exempt from identifying individual shareholders or beneficial owners. News - Mon, 28 Jan 2013 18:03:26 +0530 https://www.taxtmi.com/news?id=4600