News & Analysis as of

Beneficial Owner Regulatory Standards Anti-Money Laundering

Hogan Lovells

The EBA’s draft regulatory technical standard on customer due diligence - What should firms be worried about?

Hogan Lovells on

The European Banking Authority consultation on customer due diligence under the EU’s 6th money laundering package closes on 06 June, 2025, with the EBA due to submit its findings to the European Commission’s call for evidence...more

Hogan Lovells

Anti-money laundering and pension trustees: which trust must register with HMRC by 1 September 2022?

Hogan Lovells on

Pension scheme (and other) trustees must register certain trusts with HMRC by 1 September 2022, following the implementation in the UK of the Fifth Money Laundering Directive (5MLD). While the new requirements do not apply to...more

A&O Shearman

Pandora Papers Fallout: Proposed US Legislation Targets “Enablers” of Money Laundering

A&O Shearman on

The release of the Pandora Papers, a leak of approximately 12 million documents, exposed how foreign leaders and private actors use tax havens to conceal their wealth, with the United States a destination of choice. For...more

Foodman CPAs & Advisors

FinCEN makes Permanent Decision on Renewals and Rollovers. Financial Institutions still need to document information if they...

The Financial Crimes Enforcement Network (FinCEN) provided the banking industry certain “permanent” relief from collecting beneficial ownership information regarding certain accounts (Covered Products) that automatically...more

Ballard Spahr LLP

International Report Critiques U.S. Beneficial Ownership Transparency

Ballard Spahr LLP on

Last week, Transparency International (“TI”) released an updated assessment of the “beneficial ownership legal frameworks” in the G20 countries, entitled “G20 Leaders or Laggers?” ...more

Ballard Spahr LLP

FinCEN’s Beneficial Ownership Rule: More Practical Tips and Answers to Frequently Asked Questions

Ballard Spahr LLP on

Last year, we posted FinCEN’s Beneficial Ownership Rule: A Practical Guide to Being Prepared for Implementation regarding the Customer Due Diligence Requirements for Financial Institutions Rule (the “Beneficial Ownership...more

The Volkov Law Group

FinCEN Issues Guidance for Beneficial Ownership Regulations

The Volkov Law Group on

Financial institutions face an important deadline – May 11, 2018 is the effective date for the new customer due diligence regulations governing beneficial ownership requirements. FinCEN provided financial institutions nearly...more

Womble Bond Dickinson

HMRC's Online Register of Trusts: Why You May Need to Take Action Now

Womble Bond Dickinson on

If you are the trustee of a non-UK trust which has UK assets or UK sources of income, you need to take action before 5 March 2018 or face potential civil and even criminal penalties. The EU's Fourth Anti-Money Laundering...more

Hogan Lovells

New anti-money laundering regulations: action for pension scheme trustees - Updated December 2017

Hogan Lovells on

Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with HMRC. ...more

Ballard Spahr LLP

Expanded Beneficial Ownership Reporting and AML Duties Under the Corporate Transparency Act

Ballard Spahr LLP on

Second of a Two-Part Blog: Anti-Money Laundering Programs Coming to the Legal Profession? Earlier this week, we began our discussion of the proposed Corporate Transparency Act of 2017 (the “Act”), and observed that, if...more

Hogan Lovells

New anti-money laundering regulations: action for pension scheme trustees

Hogan Lovells on

Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with HMRC. ...more

Proskauer - Corporate Defense and Disputes

FinCEN Proposal Looks to Extend AML Requirements to Non-Federally Regulated Banks

On April 25, 2016, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, proposed a rule that would require all banks, regardless of whether they are subject to regulation by a...more

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