News & Analysis as of

New Regulations FinCEN Financial Institutions

Hogan Lovells

UPDATE #2: Effective date of FinCEN’s Section 2313a orders against three Mexican financial institutions delayed until September 4

Hogan Lovells on

U.S. financial institutions that conduct funds transfers with the designated Mexican institutions have until 4 September to implement compliance procedures. Transfers of funds involving these designated Mexican institutions...more

Bradley Arant Boult Cummings LLP

A New Rule Embraces Modernity in the Customer Identification Process

Financial institutions across the United States have grappled with compliance requirements under the Customer Identification Program (CIP) Rule for more than two decades. A new exemption, approved in June 2025, promises...more

Morrison & Foerster LLP

No Full TIN, No Problem: FinCEN Approves of TIN Verification Through a Third Party

On June 27, 2025, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order (Order) allowing banks,[1] and their subsidiaries, subject to the jurisdiction of the Office of the Comptroller...more

Perkins Coie

FinCEN Uses “Special Measures” To Combat Fentanyl Money Laundering, Raising Concerns Around Targeted Mexican Financial...

Perkins Coie on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) took a historic step in combating the fentanyl crisis on June 25, 2025, by exercising, for the first time, the expansive authorities granted...more

Hogan Lovells

UPDATE: Effective date regarding FinCEN’s new Section 2313a Orders against three Mexican financial institutions

Hogan Lovells on

U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions have until 21 July to implement compliance procedures. Transfers of funds involving these designated Mexican...more

Hogan Lovells

FinCEN invokes new Section 2313a authority against three Mexican financial institutions: The who, what, when, where, why, and...

Hogan Lovells on

The orders represent the first use of new authorities by FinCEN. U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions will be subject to significant compliance obligations,...more

Bond Schoeneck & King PLLC

FinCEN Releases New Interim Final Rule

On Friday, March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) adopted an interim final rule that severely narrows the scope of the requirements to report beneficial ownership information (BOI) under the...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for May 2024

SEC DROPS NEW REQUIREMENT FOR INCIDENT RESPONSE PROGRAMS, PROPOSAL FOR RIAS TO ADOPT CIP, SEC EXAMS SHARES MARKETING RULE FAILURES, RIA SLAMMED FOR FAILING TO RETAIN TEXTS, AND SEC WINS ON SHADOW TRADING THEORY - Welcome to...more

Fox Rothschild LLP

Corporate Transparency Act Will Mandate Disclosure of ‘Beneficial Owners’ of New and Existing Entities

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A new federal law poised to take effect soon will impose new disclosure duties on the individuals and businesses that form new entities and the professionals who assist them. The Corporate Transparency Act was passed by...more

King & Spalding

FinCEN Issues Anti-Money Laundering and Countering the Financing of Terrorism Priorities

King & Spalding on

FinCEN announces eight areas of focus and advises preparation for issuance of new regulations - On June 30, 2021, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued the first...more

Ward and Smith, P.A.

Dealing with the New Corporate Transparency Act

Ward and Smith, P.A. on

The Corporate Transparency Act (the "CTA") was adopted on January 1, 2021, to combat the laundering of illicit funds through anonymous "shell" companies. The CTA will require certain corporations and limited liability...more

Proskauer Rose LLP

The Corporate Transparency Act – Government KYC

Proskauer Rose LLP on

Summary of the Corporate Transparency Act under the National Defense Authorization Act for Fiscal Year 2021 - On January 1, 2021, the Corporate Transparency Act (the “CTA”), which is part of the National Defense...more

Allen Matkins

Corporate Transparency Act: New Requirements to Disclose Ownership Information to the Federal Government

Allen Matkins on

The Corporate Transparency Act (CTA) became a law on January 1, 2021, and it has significant implications for many new and existing United States and foreign business entities. The law will impose completely new,...more

Patterson Belknap Webb & Tyler LLP

FinCEN Issues Advisory on the Reporting of Cyber-Events and Cyber-Enabled Crimes

The Financial Crimes Enforcement Network, or FinCEN, an arm of the United States Department of the Treasury, issued an advisory last week to remind financial institutions of their obligations to report cyber-events on...more

Allen Matkins

Funds and Investment Advisers: Changes Coming in AML Compliance

Allen Matkins on

Anti-money laundering (AML) regulation has continued to evolve since it was introduced in 1970 under the broad regulatory scheme commonly known as the Bank Secrecy Act. While funds and investment advisers have not been...more

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