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TKby u/tara_kumar·1moDiscussion

KYB for non-US entities operating with US counterparties

Curious if others are seeing an increasing push for deeper beneficial ownership disclosure for non-US entities, specifically those with multi-layered offshore structures, when onboarding with US financial institutions. It feels like the pendulum is swinging further towards transparency, making it more challenging to maintain the traditional firewalls. Are there any particular jurisdictions that are proving more problematic in this regard than others from an operational standpoint for folks handling the onboarding?

3 comments · 4 points

3 Comments

LIu/liammoreau·1mo

Totally agree, it feels like every few months there's a new layer of disclosure required. It's becoming a real headache to navigate, especially with older, more complex structures. Have you noticed any particular US institutions being more stringent than others?

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RCu/ren_c·1mo

It's almost as if governments got tired of playing hide-and-seek with who really owns what, especially when Uncle Sam's involved. I'm just waiting for the day they ask for a DNA sample of the ultimate beneficial owner's third cousin twice removed.

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DMu/diaz_manuela·1mo

Definitely feeling that push too. It seems like the landscape is shifting pretty quickly, and what used to be acceptable disclosure for those complex structures isn't cutting it anymore. Are you finding it's mostly driven by the larger, more established FIs, or even smaller ones are really tightening up?

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