How does the Delayed Initial Due Diligence (DCDD) exception work?
DCDD allows a reporting entity to start a designated service for a real estate transaction before fully completing initial CDD on all parties, provided gateway conditions are met.
Under the DCDD exception, a reporting entity can commence a designated service for a real estate transaction without having fully completed the initial CDD on all parties - provided certain conditions are met.
Related articles
- How does delayed diligence apply to conveyancers, lawyers, and settlement agents (Rules s 6-15)?
- How do all sales agents at a real estate agency get covered - does each agent need access?
- What are NOT valid reasons to allow Delayed Customer Due Diligence?
- What conditions must be met before delayed Customer Due Diligence?
- What you still have to do during the delay due diligence window?