News & Analysis as of

Department of Financial Services BSA/AML

Morgan Lewis

New York Mandates Economic Sanctions Compliance Program

Morgan Lewis on

The New York rule became effective January 1, 2017. The New York State Department of Financial Services (DFS) has issued a regulation that requires certain New York regulated financial institutions to maintain programs...more

Manatt, Phelps & Phillips, LLP

BSA/AML Violations Trigger $215M Consent Order With New York's DFS

Violations of state anti-money laundering laws tripped up the Agricultural Bank of China, which recently entered into a consent order with New York's Department of Financial Services for $215 million....more

Locke Lord LLP

Final New York Anti-Money Laundering Regulations Released – Risk of Liability for AML Compliance Expands to Senior Officers and...

Locke Lord LLP on

Last December we alerted our clients of newly proposed anti-money laundering regulations issued by the New York Department of Financial Services (the Department). These rules generated nationwide attention (and criticism) due...more

Orrick - Finance 20/20

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

Orrick - Finance 20/20 on

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

Goodwin

Financial Services Weekly News - July 2016

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

Locke Lord LLP

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

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

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