Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Recent Developments in Anti-Money Laundering - The Consumer Finance Podcast
Investment Management Update – Exit Strategies
The UK's capital markets are a vital economic driver, and also a significant source of money laundering risk. This is a difficult area of risk for regulators and law enforcement to understand and tackle, but progress is being...more
On 6 October 2023, the Financial Conduct Authority (“FCA”) updated its anti-money laundering (“AML”) and counter terrorist financing (“CTF”) regime webpage (“Webpage”) with useful feedback on good and poor quality...more
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
On 23 October, the Treasury Committee launched a further inquiry to review what progress has been made in combatting economic crime. While the inquiry is focused on the effectiveness of the existing anti-money laundering...more
Last week, international regulators began issuing guidance and/or relief to impacted firms in response to the spread of COVID-19. The impact of this novel coronavirus has already begun materially to affect operations and...more
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
CFTC - CFTC Proposes Rule to Amend Regulation 160.30 - On November 12, the Commodity Futures Trading Commission (CFTC) published a proposed rule that would amend CFTC Regulation 160.30 by establishing specific...more
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
In this decision report we review the FCA’s action against Sonali Bank (UK) Ltd (Sonali Bank) and its money laundering reporting officer (MLRO), Steven Smith, in connection with failings identified in relation to Sonali...more
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
The Financial Conduct Authority published final rules on financial crime reporting, which will introduce obligations for banks, large investment firms, building societies, mortgage lenders, large electronic money...more
The Financial Conduct Authority and the Prudential Regulatory Authority have recently been showing signs of gearing up for the new regime which is intended to have the effect of making senior bankers and other financial...more