103320 – Due Diligence: Entity Accounts: Pre-Existing Accounts: Review Procedure for Account Holders: Available Information

Where the financial institution has carried out the review of regulatory and customer relationship information and has indications that the Account Holder is resident in a Reportable Jurisdiction it may take into account information in its possession, or which is publicly available, which reasonably determines that the Account Holder is not a Reportable Person with respect to such Reportable Jurisdiction.

Such information will include the following:

  • Information published by an authorised government body of a jurisdiction. For example, the list of Foreign Financial Institutions published by the US tax administration;
  • Information in a publicly accessible register maintained or authorised by an authorised government body of a jurisdiction;
  • Information disclosed on an established securities market;
  • Information previously recorded in the files of the financial institution;
  • A publicly accessible classification based on a standardised industry coding system. This will include any coding system employed by the financial institution that is based on such a standardised industry coding system.

Where the financial institution relies on such information, it must retain a notation of the type of information reviewed and the date the review was carried out.