Regulatory Notice 18-36

FINRA Amends Capital Acquisition Broker Rule 331 to Conform to FinCEN’s Final Rule on Customer Due Diligence Requirements for Financial Institutions

Implementation Date: November 19, 2018

Summary

FINRA has filed for immediate effectiveness amendments to Capital Acquisition Broker (CAB) Rule 331 (Anti-Money Laundering Compliance Program) to reflect the Financial Crimes Enforcement Network’s (FinCEN) adoption of a final rule on Customer Due Diligence Requirements for Financial Institutions (CDD Rule). The implementation date is November 19, 2018.

The text of the rule is set forth in Attachment A.

Questions concerning this Notice should be directed to:

  • Joseph P. Savage, Vice President and Counsel, Office of Regulatory Analysis, at (240) 386-4534 or by email;
  • Victoria Crane, Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8104 or by email; or
  • Julia Bogolin, Counsel, OGC, at (202) 728-8111 or by email.