Regulatory Ramblings: Episode 76 - The Digital Future: The US GENIUS Act and Hong Kong Stablecoins Ordinance / The Hong Kong Web3 Blueprint: Building a Web 3 International Financial Hub Report
Compliance Tip of the Day: Citibank and Continuous Monitoring
Compliance into the Weeds: Sanctions Compliance Failures: Lessons from Harman International and Interactive Brokers
Episode 377 -- Refocusing Due Diligence on Cartels and TCOs
Upping Your Game: Continuous Monitoring with AI
Daily Compliance News: May 19, 2025, The Definition of Corruption Edition
2 Gurus Talk Compliance: Episode 51 – The Compliance Week at 20 Edition
Navigating the Future of Payment Stablecoins: Legislative Updates and Market Implications — The Crypto Exchange Podcast
10 For 10: Top Compliance Stories For the Week Ending April 12, 2025
Daily Compliance News: April 7, 2025, The Whistleblowers Awarded Edition
Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Great Women in Compliance: Roundtable on The Future of Financial Crime Prevention
The Presumption of Innocence Podcast: Episode 50 - Hidden in Plain Sight: How Kleptocrats Exploit U.S. Financial Systems
Corruption, Crime & Compliance: TD Bank Agrees to Pay Over $3 Billion for Systemic Violations of Bank Secrecy Act and Money Laundering Violations
Episode 343 -- TD Bank Agrees to Pay Over $3 Billion for Systemic Violations of Bank Secrecy Act and Money Laundering Violations
The Consumer Financial Protection Bureau vs. the Video Game Industry
Business Better Podcast Episode: FinCEN’s Notice of Proposed Regulations to Strengthen and Modernize AML/CFT Compliance Programs
Cannabis Law Now Podcast: Cannabis Companies and the Corporate Transparency Act
Examining FinCEN FAQs, Proposed Legislation and Other CTA Developments
Practical Lessons Learned Regarding the Bank Secrecy Act and Anti-Money Laundering for Financial Institutions - The Consumer Finance Podcast
In our most recent Alert on the highly controversial and largely litigated nature of the Corporate Transparency Act (CTA), we reported that the CTA was back in effect nationwide and that, but for a few exceptions, all...more
The courts have spoken, and the last nationwide injunction has fallen. FinCEN has a green light to enforce the Corporate Transparency Act, and the federal agency has set a new deadline in March for companies to report....more
Medical practices across the United States are grappling with new compliance obligations under the Corporate Transparency Act (CTA). This article addresses the CTA’s applicability to medical practices, its current legal...more
The U.S. Securities & Exchange Commission ("SEC") recently announced settled charges against an investment adviser for misrepresentations regarding its anti-money laundering ("AML") procedures and compliance failures. As we...more
On October 10, 2024, Attorney General Merrick Garland announced that TD Bank agreed to pay over $1.8 billion in penalties to resolve the U.S. Department of Justice’s (DOJ) investigation into money laundering and Bank Secrecy...more
Conducting an independent AML audit at a frequency based on the nature, scale and complexity of the entity is a requirement under the AML Regulations. AML audits are an important component of the control environment to...more
Last week, representatives of the US government announced one of the largest sets of fines and penalties for failures in anti-money laundering ever laid down. It involved TD Bank N.A. and TD Bank US Holding Company. It was...more
China’s draft Amended Anti-Money Laundering (AML) Law1 (AML Law) was submitted to the Standing Committee of the National People's Congress (NPC) on September 10 for the second of what are generally three readings....more
The Corporate Transparency Act (the "CTA") became effective on January 1, 2024, requiring many corporations, limited liability companies, limited partnerships, and other entities to register with and report certain...more
On September 30, 2022, FinCEN published the Ultimate Beneficial Ownership (UBO) Reporting Rule (the Rule), which implements reporting requirements regarding Beneficial Ownership Information (BOI) under the Corporate...more
The Corporate Transparency Act became law in the United States on January 1, 2021 and required compliance beginning on January 1, 2024. For more information about the background of the statute, please read our prior articles...more
The Corporate Transparency Act (CTA) was enacted in 2021 and became effective on Jan. 1, 2024. The CTA was passed with the aim of enhancing transparency in corporate ownership, so as to combat the proliferation of anonymous...more
Pursuant to the adoption of comprehensive revisions to the U.S. anti-money laundering statutes as part of the Defense Appropriations Act of 2021 (the “Defense Act”), on September 30, 2022, the Financial Crimes Enforcement...more
The Corporate Transparency Act (the “CTA” or “Act”), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, marks a significant shift in the regulatory framework for businesses in the United States....more
A veritable grab bag of international trade developments to parse this week. Recent developments include increasing FCPA enforcement, a record OFAC economic sanctions penalty, and a large customs penalty for willful failure...more
In 2024, U.S. Businesses Will Face Heightened Reporting Requirements. On January 1, 2021, the federal government enacted the Corporate Transparency Act (“CTA”) – which will impact nearly all U.S. businesses within the...more
Congress passed the Corporate Transparency Act (the “CTA”) in 2020, which aims to prevent U.S. companies from engaging in certain illegal activities, including money laundering and tax fraud, by implementing federal...more
Bank mergers and acquisitions are becoming a regular part of life in the banking industry, especially for smaller and medium-sized organizations. They provide significant opportunities for institutions to expand their...more
July was a hot month for crypto enforcement, but August is off to a hot start in its own right. On August 2, 2022, the New York State Department of Financial Services (the “Department”) issued a Consent Order with Robinhood’s...more
Compliance professionals face extraordinary risks – not just for the enterprise but personal risks. CCOs should not panic or overreact when the government brings an enforcement action against a compliance officer for a...more
Foreign pursuit of the local market - If a foreign designer or contractor wanted to set up an operation to pursue the local market, what are the key concerns they should consider before taking such a step? Originally...more
FinCEN’s new Enforcement Division, which was created in June of 2013, is already making its mark in the financial enforcement world. Federal regulators are focusing on compliance with Bank Secrecy Act (“BSA”) and...more
The above lyrics are the closing stanza to the song “Ghost Riders in the Sky”. I thought about the advice for the cowboy to change his ways to save his soul from Hell when I read in both the Financial Times (FT) and the Wall...more