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What if finance brokers are not agents for lenders but provide services for lenders under a contractual agreement?

April 26, 2017agents Agreement brokers contractual Finance lenders Services

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What if finance brokers are not agents for lenders but provide services for lenders under a contractual agreement?

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Finance brokers who are not agents but are providing services to lenders under a contractual agreement do not have any SMR obligations under the AML/CTF Act, unless they themselves are providing one or more of the designated services specified in that Act.