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European Union › Suspicious Activity Reports (SARs)

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
White & Case LLP

“Unsubstantiated” suspicious transaction reports

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While financial institutions, on the one hand, are in the process of implementing and preparing to apply the fundamental amendments and changes that will take place in upcoming years by the EU AML Package—entering into force...more

Skadden, Arps, Slate, Meagher & Flom LLP

Europol Published Practical Guide for Cooperation Between Financial Institutions and Investigative Authorities

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Public-private partnerships across the world between financial institutions, financial intelligence units and investigative authorities have laid the foundation to advance criminal investigations. However, there is further...more

Fenwick & West LLP

U.S. Government Intensifies Focus on Russian Sanctions Evasion

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The U.S. government is turning up the dial on its efforts to combat evasion of export controls and sanctions against Russia. The severe trade restrictions against Russia (and Belarus) have seen continuous escalation since...more

Walkers

AML update: consultation on amendments to the AML/CFT/CPF Handbook

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The Jersey Financial Services Commission ("JFSC") recently launched a consultation on further amendments to its anti-money laundering/countering the financing of terrorism/countering proliferation finance ("AML/CFT/CPF")...more

Hogan Lovells

Italian FIU issues new Regulation on anomaly indicators for suspicious transactions reporting

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On 25 May 2023, the FIU Regulation containing anomaly indicators to be used by obliged entities for suspicious transactions reporting was published in the Official Gazette....more

Faegre Drinker Biddle & Reath LLP

UK’s Data Protection Reform Proposals Show Distinct Divergence from EU Rules

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The UK government has recently published proposals to amend UK data protection legislation with moves towards divergence from EU rules and regulation following the UK’s decision to leave the EU (“Brexit”). The Data Protection...more

ArentFox Schiff

Privacy Report: Senators Introduce Bipartisan Bill to Update Children’s Online Privacy Rules

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The legislation updates the Children’s Online Privacy Protection Act (COPPA) by prohibiting internet companies from collecting personal information from anyone 13- to 15-years old without the user’s consent Senators...more

A&O Shearman

Key Regulatory Topics: Weekly Update March 2021 #4

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FCA consults on updated mortgages tailored support guidance – Covid-19 On 5 March, the FCA published updated draft mortgages tailored support guidance for firms, to apply from 1 April at the expiration of the current...more

Ballard Spahr LLP

Using Art to Evade Sanctions and Launder Money: The Senate Report

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Is Art an “Ideal Playing Ground” for Money Laundering? Last week, the Permanent Subcommittee on Investigations for the U.S. Senate released a detailed, 147-page report titled “The Art Industry and U.S. Policies That...more

Latham & Watkins LLP

Private Bank Briefing: Issues Impacting the Private Bank Sector - December 2019

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Since it entered into force in 2018, the PRIIPs Regulation has raised a number of issues. These range from issues concerning the scope of the Regulation, in particular its application to corporate bonds and the impact this...more

A&O Shearman

Key Regulatory Topics: Weekly Update 8 - 14 November 2019

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UPCOMING SEMINARS - Convergence, divergence and disturbance: What’s next for financial regulation in Europe? On 19 November, 8.30am to 9.30am, a panel of A&O’s European regulatory partners will discuss issues facing their...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on Global AML Warnings and Guidance, US Agencies Join the GFIN

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FINANCIAL MARKETS - FATF Updates List of AML/CFT Deficient Jurisdictions - On October 18, the Financial Action Task Force (FATF) published its updated list of jurisdictions that have strategic anti-money laundering...more

White & Case LLP

AML Information Sharing in a Technology-Enabled and Privacy-Conscious World

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Financial firms play an integral role in preventing, identifying, investigating and reporting criminal activity, including terrorist financing, money laundering, and many other finance-related crimes. It is a critical role...more

Ballard Spahr LLP

Danske Bank CEO Resigns on Heels of Report Detailing an Astounding $234 Billion in Suspicious Transactions in Money Laundering...

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This week Danske Bank released a report detailing the results of its much anticipated internal investigation into allegations of money laundering perpetrated in its Estonian branch. ...more

Latham & Watkins LLP

Private Bank Briefing: Issues Impacting the Private Bank Sector

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The FCA published a Discussion Paper on a duty of care and potential alternative approaches (DP18/5) on 17 July 2018. The FCA is exploring whether there should be a duty of care in the financial services sector. It is...more

Ballard Spahr LLP

Money Laundering Watchdog Criticizes Lax AML Enforcement and “Creative Compliance” in Wake of Panama Papers

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PANA Issues Recommendations to European Parliament: Tougher Enforcement, Greater Transparency, Improved Information Sharing and Prohibitions Against Outsourcing of Customer Due Diligence....more

A&O Shearman

Financial Regulatory Developments Focus - November 2016

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In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume XI, Issue 26

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SEC/CORPORATE – SEC Division of Corporation Finance Issues C&DIs on Application of Rule 701 – On June 23, the Staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission...more

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