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Foreign Banks Civil Monetary Penalty

Hahn Loeser & Parks LLP

The Anti-Money Laundering Act Of 2020: What Businesses Need To Know Now

The National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) enacted earlier this year includes several provisions that may impose new reporting requirements on both foreign and domestic businesses. NDAA is an...more

Morrison & Foerster LLP

The Anti-Money Laundering Act Of 2020

On New Year’s Day, Congress overrode President Trump’s veto of the National Defense Authorization Act (NDAA) for the 2021 fiscal year, turning the bill into law without requiring the president’s signature. The NDAA includes...more

Rosenberg Martin Greenberg LLP

Offshore Update: IRS Releases Memorandum Addressing Updates to Voluntary Disclosure Practice After Closing Offshore Voluntary...

Now, More than Ever, Taxpayers with Lingering Offshore Tax Non-Compliance Must Seek Professional Assistance - On November 20, 2018, the Internal Revenue Service (“the Service”) released a memorandum containing important...more

Sullivan & Worcester

Object Lesson on How Not to Respond to Consent and Enforcement Actions

Sullivan & Worcester on

Last week, the DFS announced an enforcement action and charges against the NY Branch of Habib Bank, a Pakistani bank that had been doing business in NY for almost 40 years....more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Stinson - Corporate & Securities Law Blog

Illegal “Wash Sales” in Futures Contracts Result in $35 Million Fine

On December 18, the U.S. District Court for the Southern District of New York entered a Consent Order against a foreign bank (the “Bank”), imposing a civil monetary penalty of $35 million and enjoining future violations by...more

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