News & Analysis as of September 22, 2024

European Union › Bank Secrecy Act

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

The Challenge of Transparency in Preventing Financial Crime: Navigating Financial Integrity in a Changing Risk Landscape

K2 Integrity on 12/20/2023

The landscape of financial crimes is constantly evolving, and the concept of transparency is being fundamentally challenged. A dynamic, innovative approach is imperative to preserve and shape the future of financial...more

In the First Use of Its Section 9714 Powers, the U.S. Treasury Designated Bitzlato as a Russian-Linked Primary Money Laundering...

Skadden, Arps, Slate, Meagher & Flom LLP on 2/7/2023

On January 17, 2023, U.S. law enforcement authorities in Miami arrested Anatoly Legkodymov, a Russian national and the founder and majority owner of Hong Kong-based virtual currency exchange Bitzlato Ltd., on charges of money...more

A Guide to Bank Fraud Investigations

Reveal on 1/20/2023

Banking looks very different today than it did even 20 years ago. Banks have far fewer face-to-face interactions as more customers migrate to online or app-based banking services....more

Recent Developments in US Sanctions and Export Controls Targeting Russia

Perkins Coie on 3/22/2022

Following Russia’s recognition of breakaway regions in Ukraine and full-scale invasion of the country, authorities in the United States, United Kingdom, European Union, and across the globe imposed a sweeping array of trade...more

Blockchain Week in Review - March 2021 #3

Perkins Coie on 3/29/2021

US Regulatory Developments BitMEX CEO to Surrender on AML Charges BitMEX’s founder and former CEO, Arthur Hayes, reached an agreement with U.S. officials to surrender to federal charges. On October 1, 2020, the U.S....more

Using Art to Evade Sanctions and Launder Money: The Senate Report

Ballard Spahr LLP on 8/6/2020

Is Art an “Ideal Playing Ground” for Money Laundering? Last week, the Permanent Subcommittee on Investigations for the U.S. Senate released a detailed, 147-page report titled “The Art Industry and U.S. Policies That...more

Blockchain Week in Review - April 2019 #3

Perkins Coie on 5/6/2019

U.S. Developments - Regulatory Updates - Arca Investment Management Files With SEC to Issue Stablecoin - Arca Investment Management, a California-based investment management firm specializing in digital assets, filed an...more

AML Information Sharing in a Technology-Enabled and Privacy-Conscious World

White & Case LLP on 2/2/2019

Financial firms play an integral role in preventing, identifying, investigating and reporting criminal activity, including terrorist financing, money laundering, and many other finance-related crimes. It is a critical role...more

Virtual Currency: Anti-Money Laundering and Terrorist Financing Update

Perkins Coie on 7/26/2018

On July 18, 2018, the Financial Action Task Force (“FATF”), published its report to the July 2018 G20 Finance Ministers and Central Bank Governors’ meeting. The report sets out FATF’s ongoing work to fight money laundering...more

Nutter Bank Report, April 2018

Nutter McClennen & Fish LLP on 4/27/2018

Treasury Report Recommends Changes to Community Reinvestment Act Rules - The U.S. Department of the Treasury has released a report recommending changes to the federal banking agencies’ rules that implement the Community...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 4/15/2016

Senators Introduce SAFE Lending Act - On April 7, 2016, several Democratic Senators introduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act, SAFE 2016, which is designed to change the manner in which...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 9/2/2015

ESCB Reports on the Access of CCPs to Central Bank Liquidity Facilities under EMIR - On August 25, 2015, the European Central Bank (ECB) published a report by the European System of Central Banks (ESCB) on the need for...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 12/9/2014

FCA has Published a Consultation Paper on Regulatory Fees and Levies for 2015/16 - ?On November 27, the Financial Conduct Authority (FCA) published for comment a consultation paper on its fees and levies as part of...more

Corporate and Financial Weekly Digest - Volume IX, Issue 47

Katten Muchin Rosenman LLP on 12/8/2014

In this issue: - SEC Sets October 2015 Target Date for Certain Dodd-Frank and JOBS Act Rulemaking - FINRA Issues Notice on TRACE Trade Reporting Obligations - NFA Issues Guidance on Exempt and Excluded...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 8/4/2014

Bank of England Publishes Statement on Enforcement Action Against Lloyds Bank PLC and Bank of Scotland PLC - On July 28, the Bank of England published a statement on Financial Conduct Authority enforcement action...more

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