31 CFR 19.330 - What requirements must I pass down to persons at lower tiers with whom I intend to do business?

Regulations last checked for updates: May 02, 2024

Title 31 - Money and Finance: Treasury last revised: Apr 17, 2024

View all text of Subpart C [§ 19.300 - § 19.365]

§ 19.330 - What requirements must I pass down to persons at lower tiers with whom I intend to do business?

Before entering into a covered transaction with a participant at the next lower tier, you must require that participant to—

(a) Comply with this subpart as a condition of participation in the transaction. You may do so using any method(s), unless § 19.440 requires you to use specific methods.

(b) Pass the requirement to comply with this subpart to each person with whom the participant enters into a covered transaction at the next lower tier.

authority: Sec. 2455, Pub. L. 103-355, 108 Stat. 3327 (31 U.S.C. 6101 note); E.O. 11738 (3 CFR, 1973 Comp., p. 799); E.O. 12549 (3 CFR, 1986 Comp., p. 189); E.O. 12689 (3 CFR, 1989 Comp., p. 235)

source: 68 FR 66544, 66605, 66607, Nov. 26, 2003, unless otherwise noted.

cite as: 31 CFR 19.330