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Data Collection U.S. Treasury

ArentFox Schiff

SEC and FinCEN Propose New Rule: Mandatory Customer Verification for Investment Advisers in 2024

ArentFox Schiff on

On May 13, the US Securities and Exchange Commission (SEC) and the US Department of the Treasury’s (USDT) Financial Crimes Enforcement Network (FinCEN) jointly released a notice of proposed rulemaking (NPRM) which, if...more

Dechert LLP

Department of the Treasury’s CDFI Fund Releases Revised Certification Application

Dechert LLP on

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund released an updated Community Development Financial Institution (CDFI) Certification Application (Application). This updated...more

Allen Barron, Inc.

Are There Strategies to Avoid an IRS Audit?

Allen Barron, Inc. on

Are there strategies to avoid an IRS audit? What are some of the known risks for triggering an IRS audit? What should you do if you have are concerned about the information provided a previous tax return? Is there a way to...more

Holland & Knight LLP

Agency Guidelines Confirm That Climate-Related Financial Risk Is Real

Holland & Knight LLP on

The U.S. Department of the Treasury's Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board) and the Federal Deposit Insurance Corp. (FDIC) (collectively, the Agencies) on...more

Adams and Reese LLP

FinCEN Issues Alert of Scam E-Mail to Fraudulently Solicit BOI Reporting

Adams and Reese LLP on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has posted an alert stating it has been notified of recent fraudulent attempts by hackers to solicit information from individuals and...more

Dechert LLP

U.S. Treasury Announces Discontinuation of TIC Form S Following Recent Expansion of TIC Form SLT

Dechert LLP on

The U.S. Department of the Treasury (Treasury) announced on February 21, 2023, that TIC Form S — which Treasury has administered to collect data from financial institutions relating to aggregate purchases and sales of...more

Foley & Lardner LLP

RxDC Reporting Relief for Plans, Issuers, and Plan Service Providers

Foley & Lardner LLP on

On December 23, 2022, the Departments of Labor, Health and Human Services and the Treasury (collectively, the “Departments”) provided welcome relief in the form of an FAQ regarding the Prescription Drug Data Collection (RxDC)...more

Verrill

A Last-Minute Gift – Prescription Drug Reporting Grace Period and Good Faith Relief

Verrill on

In a move akin to last-minute gift-giving, the Departments of Labor, Health and Human Services, and the Treasury (the “Departments”) released FAQ 56 on December 23, 2022, which provides relief regarding the Prescription Drug...more

Seward & Kissel LLP

Merger of TIC Form S into Revised TIC Form SLT

Seward & Kissel LLP on

Introduction - The U.S. Treasury Department (the “U.S. Treasury”) has made significant changes to Treasury International Capital (“TIC”) Form SLT, a filing required to be made by many investment managers on behalf their...more

Holland & Hart - The Benefits Dial

I Want a New Drug…Prescription Drug Data Collection Reporting is Due December 27th

Plan sponsors are ultimately responsible for compliance with the Prescription Drug Data Collection (RxDC) required reporting for their group health plans—and there’s no time to waste since the reporting is due by December 27,...more

Jackson Lewis P.C.

December 27, 2022, Deadline for Mandatory Rx Data Collection Reporting

Jackson Lewis P.C. on

As group health plan sponsors, employers are responsible for ensuring compliance with the prescription drug data collection (RxDC) reporting requirements added to ERISA by the Consolidated Appropriations Act of 2021 (CAA). ...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

Morrison & Foerster LLP on

Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

King & Spalding

Managing Global Risks in Light of the Pandora Papers Leak

King & Spalding on

On October 3, the International Consortium of Investigative Journalists began reporting on millions of confidential documents relating to the financial activities of heads of state, international business leaders, and other...more

Wiley Rein LLP

Wireless Roundup (June 2021)

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Key Wireless Deadlines - Treasury Seeks Comment on Interim Final Rule Implementing Broadband Funding: Last month, the U.S. Department of Treasury (Treasury) issued an Interim Final Rule to implement the $350 billion...more

Robins Kaplan LLP

Financial Daily Dose 12.15.2020 | Top Story: Moderates Push Skinnier Covid Relief Bill that Strips Out Sticking Points

Robins Kaplan LLP on

The latest lame-duck Covid relief package proposal would trim about 150 billion dollars (and a number of key sticking points, including funds “to bolster state and local governments, and a temporary coronavirus liability...more

ArentFox Schiff

US Administration Takes on Chinese Social Media

ArentFox Schiff on

President Trump signed an Executive Order (EO) (TikTok EO) August 6, 2020, banning “transactions” yet to be identified by the US Department of Commerce (Commerce) related to TikTok and its parent ByteDance Ltd. Specifically,...more

Goodwin

Financial Services Weekly Roundup: Regulators Continue To Take Action In The Wake Of The COVID-19 Outbreak

Goodwin on

In This Issue. Federal and state regulators continued to take action in the wake of the ongoing global outbreak of the coronavirus (COVID-19). As discussed in several Goodwin client alerts, Congress passed, and the President...more

Skadden, Arps, Slate, Meagher & Flom LLP

Focus on Foreign Access to Technology and Data Continues as CFIUS — and Others — Flex National Security Muscles

With strengthened legislative mandates and significant regulatory reform in place, the U.S. government’s national security focus on protecting sensitive technology and data continues to gather steam. Although exactly what...more

WilmerHale

FINRA Introduces Two Fixed Income Initiatives

WilmerHale on

The Financial Industry Regulatory Authority, Inc. (FINRA) introduced two new initiatives related to the fixed income markets. FINRA proposed to establish a central depository for the public dissemination of new issue...more

Moore & Van Allen PLLC

New Treasury Department Regulations Expand CFIUS Authority

Moore & Van Allen PLLC on

The U.S. Department of the Treasury recently published final regulations to further implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA“) and to better address national security concerns resulting...more

BCLP

Use of Alternative Data in Underwriting Receives ‘OK’ from Federal Regulators

BCLP on

On Tuesday, December 3, 2019, U.S. federal banking regulators issued an interagency statement supporting the evaluation of alternative data when assessing consumers’ creditworthiness. Recognizing that the use of alternative...more

Nutter McClennen & Fish LLP

Fintech in Brief: Interagency Statement on the Use of Alternative Data in Credit Underwriting

On December 3, 2019, the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union...more

Vedder Price

Annual Compliance Obligation Reminders

Vedder Price on

Investment advisers registered with the U.S. Securities and Exchange Commission (“SEC”) or with a state (“Advisers”) as well as commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”) registered with the...more

A&O Shearman

US Federal Reserve Board Announces Plans to Collect Data from Banks on Secondary Market Transactions in US Treasury Securities

A&O Shearman on

The US Federal Reserve Board announced that it plans to begin collecting data on Treasury security secondary market transactions from banks. The Federal Reserve Board intends to negotiate with the Financial Industry...more

Proskauer - Corporate Defense and Disputes

SEC Chair Calls for Reexamination of Treasury Market Regulations in Light of High Speed Electronic Trading

On October 20, 2015, SEC Chair Mary Jo White gave the keynote address at the “Evolving Structure of the U.S. Treasury Market” conference organized by the U.S. Department of Treasury and the Federal Reserve Bank of New York....more

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