Regulatory Notice 18-19

FINRA Amends Rule 3310 to Conform to FinCEN’s Final Rule on Customer Due Diligence Requirements for Financial Institutions

Implementation Date: May 11, 2018

Summary

FINRA has filed for immediate effectiveness amendments to FINRA Rule 3310Anti-Money Laundering (AML) 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 May 11, 2018. This implementation date aligns with the compliance date for FinCEN’s CDD Rule.

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

Questions concerning this Notice should be directed to:

  • Michael Rufino, Executive Vice President, Head of Member Regulation – Sales Practice, at (202) 728-8381;
  • Victoria Crane, Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8104; or
  • Julia Bogolin, Counsel, OGC, at (202) 728-8111.