What does J Sox stand for? J-SOX is the unofficial term for a part of Japan’s Financial Instruments and Exchange Law that was promulgated by the Japanese National Diet in June 2006 to ensure that corporate information is disclosed in a fair manner to investors. Responding to several corporate scandals, the government established J-SOX in ..
Category : Banking and Finance
What the enhanced due diligence actually entails will be dependant on the nature and severity of the risk. The additional due diligence could take many forms from gathering additional information to verify the customer’s identity or source of income or perhaps an adverse media check. The checks should be relative and proportionate to the ..
Receiving Depository Financial Institution(RDFI) – Legal Definition Receiving depository financial institution (RDFI) is a financial institution qualified to receive ACH (Automated Clearing House) entries. These institutions should abide by the NACHA (National Automated Clearing House Association) Rules. The RDFI interlinks the Receiver’s account with the Cards Association network. Both debit and credit transactions can be ..