How To Comply With The CIP Rules
By James Cook, General Counsel at SentiLink and Parag Patel, Senior Associate at Orrick
This is the final part in a series of posts that seek to demystify and explain in simple terms the KYC requirements for financial institutions in the United States. In discussions with clients, we have found an inconsistent understanding of this crucial and evolving area of law and compliance. In this series, we will define what KYC means for financial institutions in the United States, discuss how the requirements came about, and provide a clear roadmap for compliance in the face of a changing threat landscape.