News & Analysis as of August 3, 2025

Financial Crimes

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Recent SEC AML Enforcement Actions’ Impact on Compliance Efforts in the Cannabis Sector

Troutman Pepper Locke on 6/12/2025

Investing in the cannabis industry is not without its risks, given the evolving regulatory landscape and the varying state and federal statuses of the product itself. The Financial Crimes Enforcement Network (FinCEN) has...more

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

Gordon Rees Scully Mansukhani on 5/22/2025

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

Marijuana Reclassification Impacts Bank Servicing of Businesses

McGlinchey Stafford on 5/29/2024

The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult use and medical marijuana unless it’s produced, sold, and...more

The Corporate Transparency Act is Here

Seyfarth Shaw LLP on 2/15/2024

It’s already February, the holidays are over, and compliance with the Corporate Transparency Act (“CTA”) is on everyone’s mind....more

The Corporate Transparency Act and Its Connection to Cannabis

Troutman Pepper Locke on 11/15/2023

I. Introduction - Effective on January 1, 2024, the Corporate Transparency Act (CTA) will require all nonexempt entities to report certain identifying information of its beneficial owners (as defined below) and company...more

Marijuana & Banking: What’s the Hold Up? Part 2 – Compliance Challenges

McGlinchey Stafford on 6/19/2023

For financial institutions who engage in marijuana-related banking services, the primary compliance challenge remains the disconnect between federal and state law, as it is still illegal to manufacture, distribute, or...more

Highlights from the SIFMA AML and Financial Crimes Conference

Eversheds Sutherland (US) LLP on 2/22/2018

On February 12-13, 2018, members of the securities industry, regulators and financial crime experts met in New York City at the Securities Industry and Financial Markets Association (SIFMA) Anti-Money Laundering (AML) and...more

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