Screening: Citizenship, Insiders, and Industry Employees

What this video covers

• How U.S. persons provide a Taxpayer Identification Number (TIN), while NRAs provide a passport and country of issuance, alien identification card, or another government-issued photo identification
• When enhanced due diligence applies to Financial Action Task Force (FATF)-listed jurisdictions and Financial Crimes Enforcement Network (FinCEN) special measures, plus why Office of Foreign Assets Control (OFAC) screening against the Specially Designated Nationals (SDN) list is continuous
• Why NRA accounts generally face 30% U.S.-source withholding without Form W-8BEN, and why the customer, not the broker-dealer, files it to claim treaty benefits
• How to identify a corporate insider, or affiliate, through control relationships, including directors, executive officers, and 10%-or-greater shareholders, and why status is flagged at account opening
• Why a representative routes restricted and control stock sales to compliance instead of calculating resale conditions or trading volume
• How the outside-account rule applies to new accounts and pre-existing accounts: prior written consent and written notice before opening, versus a 30-calendar-day compliance period after association
• Why employee notification is automatic while duplicate statements require an employer's written request, how spouse and dependent-child accounts trigger beneficial-interest screening, why rebuttal requires both no economic benefit and no control, and how packaged products can exempt the entire rule