📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    What does "beneficial owner"

    mean________ 
    A A person who receives dividends from a company's profits Correct Answer Incorrect Answer
    B An individual who has no control over the assets of a client Correct Answer Incorrect Answer
    C An individual who is a nominal account holder at a financial institution Correct Answer Incorrect Answer
    D An individual who only manages assets on behalf of another person Correct Answer Incorrect Answer
    E An individual who ultimately owns or controls a client or conducts transactions on behalf of another, including control over a juridical person Correct Answer Incorrect Answer

    Solution

    Section 2. Definitions: (fa) "beneficial owner" means an individual who ultimately owns or controls a client of a reporting entity or the person on whose behalf a transaction is being conducted and includes a person who exercises ultimate effective control over a juridical person.

    Practice Next
    More Other Laws and Acts Questions

    Relevant for Exams:

    ask-question
    9