FinCEN is focused on customer due diligence, and both the 2024 Investment Adviser Risk Assessment and proposed rule indicate that investment advisers will be expected to assess customer identity, business model, and sources...more
3/15/2024
/ AML/CFT ,
Anti-Corruption ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
CDD ,
CFIUS ,
China ,
Customer Identification Program (CIP) ,
Due Diligence ,
Exempt Reporting Advisers (ERAs) ,
Financial Institutions ,
FinCEN ,
Infrastructure ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
No-Action Letters ,
Popular ,
Private Funds ,
Proposed Rules ,
Risk Assessment ,
Russia ,
Securities and Exchange Commission (SEC) ,
SIFMA ,
Suspicious Activity Reports (SARs) ,
Technology Sector
The incoming Biden team will need to quickly address significant digital asset issues, including a major enforcement action and a significant proposed FinCEN rule initiated in the final days of the outgoing...more
1/25/2021
/ Bank Secrecy Act ,
Biden Administration ,
Digital Assets ,
Dodd-Frank ,
Enforcement Actions ,
FinCEN ,
Money Services Business ,
Notice of Proposed Rulemaking (NOPR) ,
Popular ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
Virtual Currency
A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to...more
12/10/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Biden Administration ,
CFTC ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Fair Lending ,
FDIC ,
Financial Products ,
Financial Services Industry ,
FinTech ,
National Bank Act ,
OCC ,
Popular ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
Special Purpose National Bank Charter