News & Analysis as of

Banking Sector › Recordkeeping Requirements › Policies and Procedures

Cozen O'Connor

Debanking: August 2025 Federal Crackdown Signals New Compliance Imperative

Cozen O'Connor on

The rules around account closures and denials of banking services are shifting quickly. Earlier this month, President Trump issued an executive order taking aim at what he describes as “politicized or unlawful debanking.” The...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Guidepost Solutions LLC on

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Sullivan & Worcester

FFIEC Examination Procedures for the Beneficial Ownership Rule

Sullivan & Worcester on

The FFIEC has updated its BSA/AML manual effective May 5, 2018, to add a section on the new legal entity due diligence requirements and to update the section of the manual on customer due diligence generally. The Fed...more

K2 Integrity

Five Areas of Focus for the New CDD Rule

K2 Integrity on

While regulators haven’t yet spelled how the new customer due diligence (CDD) requirements for financial institutions will be implemented, banks, credit unions, securities firms, money services businesses, and casinos should...more

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