News & Analysis as of

Anti-Terrorism Financing

Proposed Legislation Would Combat Terrorist Financing, Money Laundering

by Bass, Berry & Sims PLC on

- Proposed legislation targets current gaps in U.S. financial crime law and enforcement - Bi-partisan Senate legislation would likely expand compliance obligations for banks and others in financial services industry -...more

Joint Money Laundering Steering Group Consults on Proposed Revisions to Part II and III of the UK Financial Services Guidance

by Shearman & Sterling LLP on

The Joint Money Laundering Steering Group has published and opened up for consultation its proposed revisions to Parts II and III of its Guidance on the prevention of money laundering and the financing of terrorism for the UK...more

UK Government Consults on Draft Money Laundering Regulations

by Shearman & Sterling LLP on

The UK Government has published draft Money Laundering Regulations 2017 alongside a consultative document. Publication of the draft Regulations follows a consultation launched by HM Treasury on September 15, 2016, entitled...more

Amendments to the regulation on money laundering prevention and financing of terrorism applicable to financial institutions

by White & Case LLP on

Amendments to the general provisions on money laundering and financing of terrorism applicable to banking institutions, brokerage houses, regulated and unregulated non-bank lending and finance institutions, currency exchange...more

Actualite Juridique - Decembre 2016

Assurance - Résiliation d'un contrat d'assurance emprunteur pour cause d'aggravation du risque - Le Décret n°2016-1559 du 18 novembre 2016 relatif aux conditions de résiliation d'un contrat d'assurance emprunteur...more

European Commission Adopts Delegated Regulation Amending List of High-Risk Third Countries Under the Fourth Money Laundering...

On November 28, 2016, the Council of the EU published a Commission Delegated Regulation (C(2016) 7495 final) amending Commission Delegated Regulation (EU) 2016/1675 supplementing the Fourth Money Laundering Directive ((EU)...more

Orrick's Financial Industry Week in Review

Federal Reserve Announces Extension of Conformance Period under Section 13 of the Bank Holding Company Act - On July 7, 2016, the Federal Reserve announced that it will extend until July 21, 2017 the conformance period...more

NY DFS Adopts Final Anti-Terrorism and Anti-Money Laundering Regulation

On June 30, 2016, the New York Department of Financial Services (“NY DFS”) adopted a final anti-terrorism and anti-money laundering regulation (the “Final Regulation”) that requires institutions subject to regulation by the...more

Financial Services Weekly News - July 2016

by Goodwin on

Regulatory Developments - NY DFS Adopts Final Anti-Terrorism Program Regulation - On June 30, New York’s Department of Financial Services (DFS) adopted a risk-based anti-terrorism and anti-money laundering...more

Arrested Development: Fighting fraud & corruption in international aid

The following interview is with Oliver May. RB: Oliver, you’ve been specialising in how corruption affects aid organisations. Perhaps you could tell us a little about your background and how you got into that? OM:...more

New UK AML Action Plan – The Increased Role of the Private Sector

by White & Case LLP on

The UK Government has just published an Action Plan setting out extensive reform to the anti-money laundering ("AML") and counter-financing of terrorism ("CFT") regime and in particular the filing of Suspicious Activity...more

Financial Regulatory Developments Focus - February 2016 #2

by Shearman & Sterling LLP on

Bank Prudential Regulation & Regulatory Capital US Federal Deposit Insurance Corporation Issues Proposed Rule to Facilitate Access to Deposits in Large Bank Failures On February 17, 2016, the US Federal Deposit Insurance...more

CHINA REGULATORY ENFORCEMENT QUARTERLY - Q4 2015

by DLA Piper on

Legal and regulatory developments in Q4 2015 continue to reject attempts by the Chinese government to respond to the significant challenges presented by the slowing market economy and other domestic crises, while the country...more

Newly Proposed Anti-Money Laundering Regulations in New York Signal Increasing Personal Criminal Liability for AML/BSA Compliance...

by Locke Lord LLP on

Earlier this month, Governor Andrew M. Cuomo of New York announced newly proposed anti-terrorism and anti-money laundering regulations that impose increased compliance requirements and more importantly, vastly expanded...more

NYDFS Announces Proposed Anti-Terrorism and Anti-Money Laundering Regulations

by Locke Lord LLP on

On December 1, 2015, New York Governor Andrew Cuomo released a proposal for new anti-terrorism and anti-money laundering regulations for certain financial institutions. Among its more significant provisions is one that would...more

New York proposes new financial regulations that threaten criminal consequences for senior financial executives

by DLA Piper on

Citing "heightened global security concerns," New York’s Governor Andrew Cuomo and New York’s Department of Financial Services (NYDFS) have proposed a set of new financial regulations that include requiring banks’ chief...more

Canada considers new requirements for monitoring politically exposed persons

by DLA Piper on

The previous federal government introduced amendments to money laundering regulations this past summer to implement a program of financial surveillance of senior public officeholders, their family members and their close...more

Financial Regulatory Developments Focus - October 2015 #4

by Shearman & Sterling LLP on

In this week's 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...more

ESAs consult on AML/CTF

by Dentons on

The European Supervisory Authorities (ESMA, EBA and EIOPA jointly) have launched a public consultation on two anti-money laundering and countering the financing of terrorism (AML/CFT) guidelines, to be made under the fourth...more

Guide To Doing Business In New Zealand: Exchange Control (Updated)

EXCHANGE CONTROL - Currency movements in and out of New Zealand are subject to certain controls. The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 imposes restrictions on transfer of money to...more

Amendments to Canada’s Anti-Money Laundering Legislation: What’s New and What’s Next

On July 4, 2015, the federal government released amended regulations (Regulations) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). While there are some additional regulatory burdens...more

Treasury Department Issues Comprehensive Assessment of US Money Laundering and Terrorist Financing Risk

by WilmerHale on

For the first time in a decade, the Treasury Department has released its own anti–money laundering (AML) and terrorist financing Risk Assessments, which may both set a strategic framework for future AML regulatory...more

Money Laundering: Council Approves Strengthened Rules

On April 20, 2015 the Council of the EU published a press release announcing that it has adopted its position at first reading on new rules aimed at preventing money laundering and terrorist financing....more

Investment Funds Update - Europe: Key legal and regulatory updates for the funds industry from the primary European asset...

by Dechert LLP on

Central Bank Publishes Enforcement Priorities for 2015 - The Central Bank of Ireland published its statement of enforcement priorities for 2015 on 9 February 2015. The Central Bank entered into 11 enforcement settlements...more

FinCEN Issues Advisories for US Financial Institutions

The Financial Crimes Enforcement Network (FinCEN) has issued separate advisories relating to (1) anti-money laundering (AML) and counter-terrorist financing (CTF) deficiencies and (2) promoting a culture of compliance with...more

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Cybersecurity

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