FinCEN is focused on customer due diligence, and both the 2024 Investment Adviser Risk Assessment and proposed rule indicate that investment advisers will be expected to assess customer identity, business model, and sources...more
3/15/2024
/ AML/CFT ,
Anti-Corruption ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
CDD ,
CFIUS ,
China ,
Customer Identification Program (CIP) ,
Due Diligence ,
Exempt Reporting Advisers (ERAs) ,
Financial Institutions ,
FinCEN ,
Infrastructure ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
No-Action Letters ,
Popular ,
Private Funds ,
Proposed Rules ,
Risk Assessment ,
Russia ,
Securities and Exchange Commission (SEC) ,
SIFMA ,
Suspicious Activity Reports (SARs) ,
Technology Sector
Department of Justice announces criminal and civil cryptocurrency initiatives as Securities and Exchange Commission Chair Gensler continues to develop the agency’s regulatory and enforcement agenda.
Despite an unsettled...more
12/1/2021
/ Anti-Money Laundering ,
Asset Recovery ,
Cryptocurrency ,
Cybersecurity ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
False Claims Act (FCA) ,
Fraud ,
Policies and Procedures ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Senate Banking Committee
As the Biden Administration commits to crack down on corruption, recent enforcement actions show the DOJ continues a longstanding trend of relying on AML laws and other alternate statutes to prosecute corruption cases, with...more
7/14/2021
/ Anti-Bribery ,
Anti-Corruption ,
Anti-Money Laundering ,
Biden Administration ,
Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Due Diligence ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Popular ,
RICO ,
Travel Act ,
Wire Fraud
A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to...more
12/10/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Biden Administration ,
CFTC ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Fair Lending ,
FDIC ,
Financial Products ,
Financial Services Industry ,
FinTech ,
National Bank Act ,
OCC ,
Popular ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
Special Purpose National Bank Charter
If past crises are any guide, public outcry for accountability, media attention and vigorous enforcement is likely in the wake of the pandemic.
Corruption, fraud and money laundering are ever-present risks during the...more