Joseph Valenti

Joseph Valenti

K&L Gates LLP

Contact  |  View Bio  |  RSS

Latest Publications


International AML Enforcement in 2017 Expected to Target Consumer-Due-Diligence Programs, Gaming Entities, Prepaid Cards, Digital...

Over the past two years, financial regulatory bodies in the United States and Europe have increasingly emphasized consumer due diligence (“CDD”) by financial institutions as a means to combat money laundering and terrorist...more

11/30/2016 - Anti-Money Laundering Customer Due Diligence (CDD) DOJ Due Diligence EU FATF Financial Institutions FinCEN Member State OFAC Terrorism Funding Virtual Currency

12 AML Obligations Every Broker/Dealer Needs to Know

Since 2002, as part of their anti-money laundering (“AML”) responsibilities, broker/dealers have had a gatekeeper-like obligation to monitor customers for “suspicious” activities and to report those activities to the Treasury...more

9/16/2016 - Anti-Money Laundering Broker-Dealer FinCEN FINRA SEC Suspicious Activity Reports (SARs)

Bridging the Great Divide: Collaboration Considerations for Banks and Marketplace Lenders

Marketplace lending has grown dramatically over the last several years, but it still remains a nascent industry. As it continues to expand its reach, players in the industry and the traditional banking/investment sector are...more

7/20/2016 - Banks CFPB Community Reinvestment Act DOJ FDIC OCC Online Marketplace Lending

FINRA Targets AML Programs and “Culture of Compliance” as 2016 Enforcement Priority, Particularly for High-Risk Broker/Dealers

Under Securities and Exchange Commission (“SEC”) authorization, the Financial Industry Regulatory Authority (“FINRA”) is “responsible for regulating (1) all securities firms that do business with the public[,]” (2) key stock...more

4/25/2016 - Anti-Money Laundering Bank Secrecy Act Broker-Dealer Compliance Corporate Culture Enforcement Actions Examination Priorities FinCEN FINRA Risk Management SEC

Are Your Company’s Legal, Due-Diligence, De-risking, or Compliance Obligations Impacted by the “Panama Papers”?

In an unprecedented event earlier this week, 11.5 million files from the Panamanian law firm Mossack Fonseca were allegedly leaked. Assuming they are genuine, as appears to be the case, these “Panama Papers” offer a...more

4/12/2016 - Anti-Corruption Bribery BSA/AML Criminal Penalties DOJ Due Diligence Enforcement Actions FCPA FinCEN Money Laundering Panama Papers Risk Mitigation SEC Shell Corporations Young Lawyers

Certain Compliance Risks in Marketplace/Peer-to-Peer/Online Lending

The tragic terrorist shootings in San Bernardino on December 2, 2015 shed light on serious risks associated with online marketplace lending. The attackers obtained $28,500 from an online marketplace lender under a pretext,...more

2/15/2016 - BSA/AML Capital Raising Emerging Growth Companies Financial Services Industry Investors Online Marketplace Lending Peer-to-Peer

Treasury Department Issues Cybersecurity Checklist for Financial Institutions: What Might Apply to Your Financial Services...

On November 17, 2015, Deputy Treasury Secretary Sarah Bloom Raskin devoted her remarks at the Clearing House Annual Conference to financial sector cybersecurity. She concluded with a list of recommendations for handling...more

12/15/2015 - Cybersecurity FCRA Financial Services Industry Gramm-Leach-Blilely Act Sarbanes-Oxley SEC State Data Breach Notification Statutes

Accepting Daily Fantasy Sports Payments and Proceeds May Be Unlawful: New York AG Accuses DFS Sites of Leading “Massive . . ....

New York Attorney General (“NYAG”) Eric Schneiderman has claimed that daily fantasy sports (“DFS”) sites, including FanDuel and DraftKings, violate New York state gambling laws. He has issued cease-and-desist letters, giving...more

11/16/2015 - Fantasy Sports NYDFS Online Gaming Sports Betting UIGEA

DOJ Sharpens Focus on Corporate Compliance in Deciding Whether to Prosecute Companies

One of the factors that the U.S. Department of Justice (DOJ) considers in deciding whether to bring charges against a corporation is the existence and effectiveness of the corporation’s pre-existing compliance program. On...more

11/5/2015 - Anti-Bribery Anti-Corruption Banking Sector Banks Bribery Compliance Corporate Counsel Corporate Fraud Corruption DOJ Financial Institutions Government Investigations White Collar Crimes

Is Money Being Laundered Through Your Financial Institution Using Daily Fantasy Sports Sites?

This alert addresses the explosion in popularity of daily fantasy sports (“DFS”) sites and the money-laundering potential that DFS sites may offer to criminals around the world. It then explains potential legal liability...more

11/2/2015 - Advertising Anti-Money Laundering Bank Secrecy Act Banking Sector Banks BSA/AML Compliance DOJ Fantasy Sports Financial Institutions FinCEN Football Gambling Money Laundering OFAC Online Gaming Online Platforms SAR Sports Sports Gambling Suspicious Activity Reports (SARs) UIGEA Venture Capital

Gambling and the Bank Secrecy Act

The Bank Secrecy Act (“BSA”) is a complex set of federal laws and regulations that require “financial institutions” to keep records, make reports, and conduct due diligence as a means of helping the federal government detect...more

5/26/2015 - Bank Secrecy Act Casinos Cruise Ships Financial Institutions Gambling

Enhanced Protections for Federal-Employee Whistleblowers: Sign of Things to Come?

Whistleblowers who work for the federal government recently received greater protection under federal law. These additional protections are significant and close prior gaps in the protections afforded by previous statutes and...more

1/11/2013 - Garcetti Whistleblower Protection Enhancement Act Whistleblower Protection Policies Whistleblowers

Sending the Privilege Away: Attorney-Client E-Mails in the Corporate Setting

In a pending False Claims Act (“FCA”) case involving allegations of noncompliance with the federal physician self-referral law (the “Stark Law”), 42 U.S.C. § 1395nn, the United States District Court for the Middle District of...more

1/8/2013 - Attorney-Client Privilege Corporate Counsel Crime-Fraud Exception Email False Claims Act (FCA) Stark Law Whistleblowers Work Product Privilege

13 Results
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.