New Control

Reference: Article 59 1.

Guidance: In the case of legal entities similar to express trusts under Article 57 or, with the exception of discretionary trusts, express trusts and similar legal arrangements under Article 58, where beneficiaries have yet to be determined, the class of beneficiaries and its general characteristics shall be identified. Beneficiaries within the class shall be beneficial owners as soon as they are identified or designated.

Reasoning for No Match: New CC option 1: Identify the characteristics of beneficiaries [as a part of / during] customer due diligence. New CC option 2: Validate beneficial ownership information [as a part of / during] customer due diligence. Parent: 13618 - Establish, implement, and maintain a customer due diligence program.