Frederick S. Lamb's painting of William Penn at the Brooklyn Museum. William Penn (14 October 1644 â 30 July 1718) was the son of Sir William Penn, and was an English real estate entrepreneur, philosopher, early Quaker, and founder of the Province of Pennsylvania, the English North American colony and the future Commonwealth of Pennsylvania.
The final rule also contains significant changes that reflect the extensive public comments on the proposed rule received by the DOL. Read our in-depth analysis about the final rule. Effective Date: June 7, 2016 (60 days after the scheduled Federal Register publication date of April 8)
In just eight months, all federally regulated banks, brokers or dealers in securities, mutual funds, futures commission merchants, and introducing brokers in commodities will be required to comply with the new Beneficial Ownership Rule issued by the Financial Crimes Enforcement Network (FinCEN) in 2016, which requires institutions to collect certified information identifying the individuals who own or control their legal entity customers. 1 The Beneficial Ownership Rule is expected to have a ...