While not required, it would be prudent practice to ask the client if a third party is involved. If the client is acting for or representing a third party, the...

Unless the vendor is acting for or representing the other party, there is no obligation to verify that party’s identity. However, prior to accepting the client’s instructions to pay the...

The client identification and verification rules will normally apply with respect to the insurer and the individuals instructing you on behalf of the insurer. Special considerations may apply with regard...

The rule requires that you make reasonable efforts to obtain, and if obtained, record with the applicable date, the names and addresses of all trustees and all known beneficiaries and...

Yes. Generally, a joint venture is not an independent legal entity; it is a business model in which two or more organizations (corporations, partnerships trusts) or individuals share resources for...

No, the beneficiaries are not considered to be third parties unless they are instructing you or your client. The fact that an individual or organization might benefit from or be...

Yes, you must identify the minor, and if there is a financial transaction, you must verify the minor’s identity. You must record the details with the applicable date. If the...

If your client is acting for or representing a third party (e.g. an attorney acting under a power of attorney), you must identify both your client and the third party....

No. In that case the developer is not acting for or representing the purchasers with respect to the legal services you are providing to the developer. However, note that a...