...Marc-Alain Galeazzi; Barbara Mendelson; Malka Levitin Purpose The purpose of this article is to inform stakeholders about the Anti-Money Laundering Act of 2020 (AMLA), explain its impact on the U.S. anti-money laundering (AML) regime, and highlight critical updates for financial institutions...

... examination priorities. Findings The SEC’s priorities for 2021 examinations include retail investor protection; information security; operational resiliency; financial technology and innovation, including digital assets; anti-money laundering; LIBOR transition, and selected areas for registered investment...

.... Financial Crimes Enforcement Network (FinCEN) Virtual currency Money services business (MSB) Money transmitter Convertible virtual currency (CVC) Anti-money laundering On May 9, 2019, the Financial Crimes Enforcement Network (“FinCEN”) published interpretive guidance to reiterate how FinCEN’s...

... Retail investors US Securities and Exchange Commission (SEC) Anti-money laundering Cryptocurrencies Investment adviser examination priorities On February 7, 2018, OCIE published its examination priorities for 2018[ 1 ]. Given that OCIE’s examination priorities for 2017 were published before...

...Carlton Greene; Thomas Hanusik; Cari Stinebower; Sarah Bartle Purpose To analyze FinCEN’s settlement with Thomas Haider and examine regulatory agencies’ emphasis on individual accountability and the implications of this emphasis for anti-money laundering (AML) compliance personnel, and to provide...

... to be taken when there is a lack of verification. FinCEN Anti-money laundering Beneficial ownership Customer due diligence Hedge funds FinCEN’s new CIP beneficial owner rules are intended to hinder the ability of shell and nominee companies to directly access the US financial system without...

... that fall under the proposed definition of those subject to Bank Secrecy Act should prepare to implement anti-money laundering compliance programs. Originality/value This article contains valuable information about proposed regulations impacting investment advisers registered or required...

...@bingham.com © Authors 2014 Anti-money laundering AML Beneficial owner FinCEN Foreign correspondent account Anti-money laundering compliance can be among the most challenging compliance tasks facing firms, given that money launderers take deliberate, often sophisticated steps to avoid...

...Martin Saunders; Chris Stott Purpose The purpose of this paper is to discuss recent trends in anti‐money laundering enforcement by UK regulatory authorities and the UK's response to recent EU anti‐money laundering regulatory reform proposals. Design/methodology/approach The paper describes HM...

...Martin Saunders; Chris Stott Purpose The aim is to explain the meaning of a May 2012 High Court decision and Financial Services Authority fine and their importance for money laundering reporting officers (MLROs) and those who oversee anti‐money laundering (AML) controls. Design/methodology...