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Due Diligence Today's Popular Updates Anti-Money Laundering

Hogan Lovells

Art, sanctions and suspicion: What the Ojiri case tells us about risk and responsibility in the regulated sector

Hogan Lovells on

The recent conviction of London-based art dealer Oghenochuko Ojiri marks a watershed moment for financial crime enforcement in the UK's regulated sector. For the first time, a conviction has been secured under section 21A of...more

Gordon Rees Scully Mansukhani

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more

Goodwin

AML/CTF Asset Due Diligence Obligations: CSSF Provides Clarifications in an initial Q&A

Goodwin on

On 13 December 2024, the Commission de Surveillance du Secteur Financier (CSSF) published the first FAQ to assist professionals in the investment sector supervised, authorised, or registered by the CSSF in complying with...more

NAVEX

How Compliance Teams Can Think About Risk in Modern Times

NAVEX on

A few weeks back the U.S. Financial Crimes Enforcement Network (FinCEN) published a bulletin urging financial firms to do better at identifying deepfakes that fraudsters might use to evade customer due diligence programs. The...more

ArentFox Schiff

FinCEN Releases Final Anti-Money Laundering Rule for Investment Advisers

ArentFox Schiff on

On August 28, the Financial Crimes Enforcement Network (FinCEN) issued a final rule establishing anti-money laundering and countering the financing of terrorism (AML/CFT) compliance obligations for US Securities and Exchange...more

Strafford

[Webinar] Corporate Transparency Act's Impact on Real Estate: Reporting Companies; Exemptions; Beneficial Ownership Reporting -...

Strafford on

This CLE webinar will examine the Corporate Transparency Act (CTA), effective Jan. 1, 2024, and its impact on real estate entities and transactions, including who is considered a "reporting company" subject to new beneficial...more

Pillsbury Winthrop Shaw Pittman LLP

FinCEN’s Proposed Rule to Regulate Investment Advisers: The Questions Industry Should Be Following

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

Carlton Fields

FINRA Issues 2024 Annual Regulatory Oversight Report

Carlton Fields on

FINRA issued its 2024 Annual Regulatory Oversight Report on January 9, 2024, providing a glimpse into FINRA’s current regulatory oversight of member firms and their registered personnel in 27 topic areas....more

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

Jenner & Block on

As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Ballard Spahr LLP

FinCEN and BIS Issue Joint Notice on SAR Filings for Evasion of U.S. Export Controls

Ballard Spahr LLP on

The Financial Crimes Enforcement Network (“FinCEN”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) recently issued Joint Notice FIN-2023-NTC2, “Announnc[ing] New Reporting Key Term and...more

J.S. Held

The Importance of Cybersecurity in the Online Sports Betting Industry

J.S. Held on

Online sports betting has become a booming industry in recent years, with millions of people placing bets and wagers from their phones and computers. Ever since Murphy v. NCAA, the 2018 case in which the United States Supreme...more

Paul Hastings LLP

Our Top 10 Predicted Business and Human Rights Issues for 2023

Paul Hastings LLP on

The explosion of global business and human rights continued to resonate across the globe in 2022. Some of the business and human rights trends have been evident and growing for several years; others are relatively new. Many...more

Goodwin

Buying a UK Crypto Business: The New Regulatory Hurdles

Goodwin on

​​​​​​​The advance of the regulation of crypto-assets and crypto-related service providers has been piecemeal in the U.K. The latest round of changes took place in the Money Laundering Regulations 2017 (MLR) on 1 September...more

K2 Integrity

Sanctions Against Russia: Understanding the Evolving Picture and How to Respond

K2 Integrity on

...Since the start of the invasion of Ukraine by Russian forces on February 24, the United States (U.S.), United Kingdom (UK), and the European Union (EU) have led a global sanctions campaign against Russia that has been...more

K2 Integrity

Transaction Monitoring and Risk Mitigation Strategies for Global Supply Chains

K2 Integrity on

Between export bans and the numerous entities and individuals now restricted from transacting in the global economy, organizations worldwide must evaluate the legal, reputational, and cybersecurity impacts on their supply...more

Pillsbury Winthrop Shaw Pittman LLP

DOJ Continues Targeting of Corruption through AML Laws and Alternate Statutes – Lessons for Compliance and Due Diligence

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

Oberheiden P.C.

5 Anti-Money Laundering Compliance and Defense Tips

Oberheiden P.C. on

1. AML Laws - Federal anti-money laundering (“AML”) laws are complex in nature and apply to a broad category of institutions and businesses. One of the most important AML laws is the Bank Secrecy Act, which obligates...more

Hogan Lovells

UK FCA becomes AML/CFT crypto supervisor

Hogan Lovells on

The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more

Pillsbury Winthrop Shaw Pittman LLP

Gibraltar’s Financial Services Regulator Adopts First-Ever Purpose-Built Blockchain Regulations

Gibraltar has become the first jurisdiction worldwide to offer a fully regulated framework for firms working with distributed ledger technology (DLT)—also known as blockchain. The new regulatory framework means that FinTech...more

Foley & Lardner LLP

Private Equity and the New Trump Administration: Your Top Ten Questions Answered

Foley & Lardner LLP on

The election of President Trump contained more than a few positive signs for Private Equity (PE) firms. Promises of a lower corporate tax environment, a ten-percent tax holiday for funds parked overseas, large infrastructure...more

Skadden, Arps, Slate, Meagher & Flom LLP

"FinCEN Finalizes Customer Due Diligence Rule Amid Other Actions to Enhance Financial Transparency"

In the wake of the Panama Papers controversy, the U.S. government has taken major steps this month to promote financial transparency. First, the Financial Crimes Enforcement Network (FinCEN) finalized its proposed rule issued...more

Ballard Spahr LLP

FDIC Highlights Marketplace Lending Risks for Bank Partners

Ballard Spahr LLP on

The Federal Deposit Insurance Corporation's (FDIC) publication of an article highlighting the risks for banks that partner with marketplace lenders further underscores the focus of federal regulators on marketplace lending....more

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