# Customer Identification Programs for Mutual Funds
> **Treasury** · Joint final rule. · Published 2003-05-09 · Effective 2003-06-09 · 68 FR 25131
## Document
- **Document number:** 03-11018
- **Category:** other
- **Sub-agency:** Treasury
- **Federal Register citation:** 68 FR 25131
- **CFR reference:** 17 CFR 270
- **Publication date:** 2003-05-09
- **Effective date:** 2003-06-09
- **Treasury docket:** Release No. IC-26031
## Abstract

The Department of the Treasury, through the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission are jointly adopting a final rule to implement section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001 (the Act). Section 326 requires the Secretary of the Treasury (the Secretary or Treasury) to jointly prescribe with the Securities and Exchange Commission (the Commission or SEC) a regulation that, at a minimum, requires investment companies to implement procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable; to maintain records of the information used to verify the person's identity; and to determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to investment companies by any government agency. This final regulation applies to investment companies that are mutual funds.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2003/05/09/03-11018/customer-identification-programs-for-mutual-funds)
---
*AI Analytics · CC0 1.0*