The Financial Action Task Force ("FATF"), the international standard-setting body for national anti-financial crimes regimes, recently issued new obligations for governments and, by extension, financial institutions ("FI"),...more
On September 25, 2019, the US House of Representatives ("House") passed, by a vote of 321 to 103, the Secure and Fair Enforcement Banking Act ("SAFE Banking Act"), bipartisan legislation designed to secure and regulate...more
10/9/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Canada ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Cole Memorandum ,
Controlled Substances Act ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Harmonization Rules ,
Hemp ,
Marijuana Related Businesses ,
Medical Marijuana ,
NYDFS ,
Popular ,
Proposed Legislation ,
Rohrabacher-Farr Amendment ,
Suspicious Activity Reports (SARs) ,
USDA
Canada legalised recreational cannabis in October 2018 and it may be that other countries follow suit. UK and US investors, and those who facilitate investments in legal recreational cannabis businesses overseas, need to be...more
3/25/2019
/ Anti-Money Laundering ,
Canada ,
Criminal Liability ,
Criminal Proceeds ,
Cross-Border Transactions ,
Decriminalization of Marijuana ,
Financial Institutions ,
Foreign Investment ,
Investor Protection ,
Marijuana Related Businesses ,
National Crime Agency (NCA) ,
Proceeds of Crime Act 2002 (POCA) ,
Suspicious Activity Reports (SARs) ,
UK