What is a beneficiary owner and controlling officer?

In order to meet regulatory obligations and prevent money laundering, we’re required to collect the identifying information belonging to the beneficial owners and controlling officers of any company that opens an account with us.

A beneficial owner is an individual person who owns 25% or more of the company in question.

A controlling officer is a natural person who possesses significant responsibility to control, manage, or direct a legal entity customer. (For example, a Chief Executive or Senior Manager.)

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