Utah Admin. Code R628-20-6 - Prohibited Deposits
(1) Use of FDIs
in any country or territory described below is prohibited.
(a) Countries subject to sanctions by the
Office of Foreign Assets Control (OFAC); and
(b) Countries and territories on the
Financial Action Task Force's (FATF) list of high risk and non- cooperative
jurisdictions.
(2)
Financial Crimes Enforcement Network (FinCEN) advisories must be reviewed by
the higher education institution to ensure that potential anti-money laundering
and counter-terrorist financing risks associated with any country are assessed,
identified and avoided before establishing deposits in the FDI.
(3) The FDI may not be listed on the U.S.
Treasury's Specially Designated Nationals (SDN) list.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.