The U.S. Securities and Exchange Commission (SEC) voted unanimously on May 2, 2018 to propose amendments to Rule 2-01(c)(1)(ii)(A) under Regulation S-X – the so-called “Loan Provision” (Proposal). Generally, the Loan...more
5/17/2018
/ Affiliates ,
Auditors ,
Audits ,
Beneficial Owner ,
Compliance ,
FASB ,
Lenders ,
Loans ,
No-Action Letters ,
Proposed Rules ,
Registered Investment Companies (RICs) ,
Regulation S-X ,
Securities and Exchange Commission (SEC) ,
Significant Influence Test
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) on April 3, 2018 issued Frequently Asked Questions Regarding Customer Due Diligence Requirements for Financial Institutions (FAQs). The FAQs address various...more
4/13/2018
/ Anti-Money Laundering ,
Beneficial Owner ,
Broker-Dealer ,
Compliance ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
FinCEN ,
Investment Adviser ,
Joint Ownership ,
Legal Entity Identifiers ,
Mutual Funds ,
Retroactive Application ,
Verification Requirements
The U.S. Department of the Treasury, together with other U.S. government agencies responsible for enforcing anti-money laundering (AML) and economic sanctions regulations, released guidance on August 30, 2016 in the form of a...more
9/1/2016
/ Anti-Money Laundering ,
Compliance ,
Depository Institutions ,
Due Diligence ,
Economic Sanctions ,
Enforcement Actions ,
Foreign Correspondent Banking ,
Foreign Financial Institutions (FFI) ,
Joint Policy Statements ,
New Guidance ,
U.S. Treasury
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking on August 25, 2015,1 pertaining to all investment advisers registered or required to be registered...more
Recent enforcement actions brought by the U.S. Government against non-U.S. banks for violations of U.S. sanctions laws demonstrate the need for financial institutions, particularly those that act as custodians or financial...more
1/30/2014
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Compliance ,
FinCEN ,
Foreign Banks ,
Iran ,
ITSR ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
U.S. Treasury