CDD requirements and resources for companies in the United States of America
CDD requirements and resources for companies in the United States of America

The following Practice Compliance guidance note provides comprehensive and up to date legal information covering:

  • CDD requirements and resources for companies in the United States of America
  • Customer/client Due Diligence (CDD)
  • US State resources

Forthcoming changes: The UK has voted to leave the EU and this will take place on exit day as defined in section 20 of the European Union (Withdrawal) Act 2018. This has implications for law firms. This Practice Note is likely to be affected. It will be updated as and when relevant implementing legislation is published. For more on Brexit, see Practice Notes: Brexit—anti-money laundering and counter-terrorist financing—law firms and Preparing for Brexit—key considerations and action planning—law firms.

This Practice Note is a one-stop shop for customer/client due diligence (CDD) resources in the USA that saves time and effort by taking you straight to the relevant companies registries for the different States in America.

Company incorporation in the USA is the responsibility of State governments and the information available will vary according to State law.

A legal entity in the USA is usually known as a corporation. Corporations whose shares are traded publicly are registered with the Securities and Exchange Commission (SEC) in Washington which maintains an online register.

Customer/client Due Diligence (CDD)

CDD is a central pillar of the anti-money laundering (AML) and counter-terrorist financing (CTF) regime. CDD requirements underpin the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, (MLR 2017), SI 2017/692, whi