The New York Controlling Persons Questionnaire is a vital document utilized in the financial industry for compliance and regulatory purposes. This questionnaire serves the purpose of identifying and gathering information on individuals who hold influential positions within an organization or have significant control over its operations or decision-making processes. These controlling persons are considered key figures responsible for the overall direction and management of the entity. The New York Controlling Persons Questionnaire helps financial institutions, such as banks, credit unions, and investment firms, fulfill their obligation to understand the structure and control of their clients, particularly those incorporated or doing business in New York. It assists in complying with the rules and regulations established by the New York State Department of Financial Services (NY DFS), ensuring transparency and accountability within the financial system. The questionnaire comprises a comprehensive set of inquiries designed to obtain detailed information about individuals who meet the criteria of a controlling person. It typically covers the following aspects: 1. Personal Information: Full name, date of birth, current address, and contact details of the controlling person. 2. Employment Details: Occupation, job title, employer's name, and address. 3. Ownership and Control: Percentage of ownership or control held by the individual over the entity, voting rights, and the nature of their control (direct or indirect). 4. Management Functions: Specific managerial roles and responsibilities held by the individual within the entity. 5. Financial Interests: Any financial interests held by the individual in other business entities. 6. Background and Experience: Description of the individual's professional background, including education, skills, and qualifications relevant to their control position. It is essential to note that variations of the New York Controlling Persons Questionnaire may exist depending on the type of financial institution and the specific requirements set forth by the NY DFS. For instance, banks, insurance companies, and investment firms may have slightly different questionnaires tailored to their respective industries. However, the core purpose remains the same — to identify and collect comprehensive information about controlling persons. By diligently completing the New York Controlling Persons Questionnaire, financial institutions can meet their regulatory obligations, prevent money laundering, adhere to anti-terrorism financing measures, and ensure the integrity of the financial system. Compliance with this questionnaire aids in safeguarding the interests of both the institution and the broader New York economy.
New York Controlling Persons Questionnaire
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How to fill out New York Controlling Persons Questionnaire?
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If you are a foreign corporation that is not authorized (registered with NYSDOS), use Form DTF-95 to report a legal name change. You may be asked to provide further information. ? All other business entities may use Form DTF-95 to report a legal name change. Closing a business.