AML BSA and Sanctions Compliance Part II of II June 24, 2014
AML BSA and Sanctions Compliance I of II June 10 2014
FINCEN NAMES JAMES EL-HINDI AS NEW DEPUTY DIRECTOR -
On May 21, FinCEN announced Jamal El-Hindi as its new Deputy Director. Since January 2015, El-Hindi has been serving as the agency’s acting Deputy Director, and...more
OFAC FINES PAYMENT PROCESSING COMPANY FOR PROVIDING SERVICES TO A DESIGNATED NARCOTICS TRAFFICKER -
On April 15, OFAC entered into a $23,336 settlement with an Atlanta-based payment processing company for its role in...more
Welcome to the April 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month in anticorruption developments, Canadian transportation giant faces scrutiny for alleged bribery in South...more
FINRA’s Retrospective Rule Review Process Continues. On April 16, FINRA announced that the FINRA Board of Governors had authorized FINRA to publish a regulatory notice requesting comment on proposed amendments to Rules 2210...more
The SEC Acts to Protect Whistleblowers Against Restrictive Confidentiality Provisions. In a development that should send HR directors and general counsels to review their form confidentiality agreements, the SEC announced...more
NEW YORK BANK REGULATORY CONSIDERING CYBERSECURITY REGULATIONS, RANDOM AUDITS OF BANKS -
On February 25, New York DFS Superintendent Benjamin Lawsky delivered remarks at Columbia Law School focusing on how state bank...more
FINCEN FINES NY-BASED SECURITIES BROKER-DEALER FOR ANTI-MONEY LAUNDERING SHORTFALLS -
On January 27, FinCEN fined a New York securities broker-dealer firm $20 million for violating the BSA. According to the press release,...more
Once the subject of speculation regarding its possible consolidation with other agencies, the Serious Fraud Office (SFO) had an exceedingly busy 2014, with all signs suggesting that it will continue its aggressive enforcement...more
Editor’s Note -
Rich Matheny Comments on New Format of OFAC Sanctions List: On January 5, OFAC announced the release of a new format of its Specially Designated Nationals and Blocked Persons (SDN) List. With the new...more
Welcome to the December 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, a major cosmetics retailer as well as its subsidiary pleads guilty to...more
Amendment to Swaps Push-out Provision of Dodd-Frank: Section 630 of the recently passed Consolidated and Further Continuing Appropriations Act, 2015 (“Omnibus Spending Bill” – see p. 249) amends Section 716 of the Dodd-Frank...more
Welcome to the November 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, a life sciences company settles multi-country bribery investigations, a...more
Welcome to the October 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. -
This month on the anticorruption front, a Texas company agrees to pay more than $5 million to settle allegations...more
Welcome to the July 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, two Noble Corporation executives settle with the U.S. Securities and Exchange...more
Welcome to the June 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month, on the anticorruption front, the U.S. Court of Appeals for the 11th Circuit defines key Foreign Corrupt...more
Welcome to the May 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month, on the anticorruption front, Avon Products, Inc. (“Avon”) agrees to pay USD $135 million to settle a...more
In this issue:
- EU Developments
- German Developments
- UK Developments
- Us Developments
- Excerpt from EU Developments -
European Commission Proposes to Introduce Shareholder "Say...more
It is that time of year again when we dust off the compliance crystal ball and take a look at what might be in store for 2014.
1. Executive Order 13627 Changes Government Contracting -
Want a government contract...more
I. Introduction -
On November 26, 2013, Weatherford International (“Weatherford” or “the Company”), an oil-field services company that trades on the New York Stock Exchange, agreed to pay $253 million in criminal and...more
It has been over eight months since SEC-registered issuers began making mandatory disclosures of business activities in or with Iran. During that period, issuers have filed over 400 Iran Notices with the SEC, including...more
Effective February 6, 2013, companies required to file quarterly and annual reports (10Qs and 10Ks) with the Securities and Exchange Commission (SEC) are required to include information about certain of their own and their...more
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury enforces comprehensive sanctions that regulate, and largely forbid, most forms of trade and financial transactions by U.S. persons with Iran....more
A number of companies have filed IRANNOTICEs on EDGAR with the SEC (thanks to Broc Romanek for pointing this out). The notices reference disclosures made in annual reports pursuant to Section 219 of the Iran Threat Reduction...more
As 2013 begins, the United States has reiterated its commitment to countering the threat posed by Iran by passing new legislation, issuing new regulations and guidance, and bringing into effect new requirements to increase...more
Mandatory requirements cover actions of issuers' foreign subsidiaries and affiliates.
On August 10, 2012, section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (the Act), 112 P.L. 158, added new...more
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