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Finance & Banking General Business Criminal Law

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

U.S. Court Orders Coinbase to Share Information about Account Holders with the IRS but Limits to Transactions over $20,000

A U.S. federal district court judge on Tuesday, November 29 ordered Coinbase Inc., the largest cryptocurrency exchange and storage platform in the world, to provide information about certain of its account holders to the U.S....more

Cross-Border Investigations Update - November 2017

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including new U.K. reporting obligations for sanctions violations,...more

Anti-Money Laundering Update: California Card Club Clubbed by FinCEN for AML Violations

by Bass, Berry & Sims PLC on

Post at a glance: • FinCEN imposes $8 million penalty against California’s biggest and oldest card club • Club failed to implement and maintain an effective anti-money laundering (AML) program and failed to detect,...more

What If You Are Ineligible For The Offshore Voluntary Disclosure Program? Attorney Proffers versus Quiet Disclosures

by Sanford Millar on

Since the beginning of the current Offshore Voluntary Disclosure Programs (OVDP) in 2009 tens of thousands of U.S. taxpayers have come forward to report previously undisclosed foreign financial accounts. The addition of the...more

SEC Enforcement: Another Look At Last Fiscal Year

by Dorsey & Whitney LLP on

The SEC published its statistics for the last fiscal year in a glossy report centered on a discussion of the new retail/cyber focus of the Enforcement Division. Statistics are not the sole measure of success the agency...more

California Card Club Plagued By Allegations Of Criminal Activity Fined $8 Million For AML Violations

by Fox Rothschild LLP on

Today the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced that it had fined a California card club, Artichoke Joe’s Casino, $8 million for numerous willful violations of the Bank Secrecy Act...more

Defence & Indemnity - October 2017: I. INSURANCE ISSUES A.

by Field Law on

I. INSURANCE ISSUES: A. Where an insured’s employee followed an email from a fraudster posing as a vendor to change the electronic payment instructions to an account controlled by the fraudster, coverage was denied under...more

Anti-Money Laundering Update: FinCEN Makes Small Texas Bank Pay Big Fine for Violating Bank Secrecy Act

by Bass, Berry & Sims PLC on

This Post at a Glance: - FinCEN imposes $2 million penalty against community bank - Bank failed to conduct appropriate due diligence related to Mexican customer - Small banks, other financial institutions need to...more

Blockchain Week in Review – October #8

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Initial Coin Offerings (ICOs): The Current State of Play

The ICO boom in 2017 brings with it questions of jurisdiction and compliance, and a need for further guidance - The benefits of ICOs in raising capital, as well as in providing a marketing push for a new business model,...more

Top Ten International Anti-Corruption Developments for September 2017

by Morrison & Foerster LLP on

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

New obligation to declare beneficial owner(s)

by White & Case LLP on

The Ordinance of 1 December 2016 (which implemented the European Anti-Money Laundering Directive of 20 May 2015) and the so-called "Sapin II Law" of 9 December 2016 introduced new obligations for companies. Companies must now...more

Corporate Investigations and White Collar Defense - October 2017

Supreme Court to Hear Important Whistleblower Case - Why it matters: Must an employee “whistleblower” specifically provide information about alleged corporate misconduct to the Securities and Exchange Commission (SEC) in...more

Financial Services Quarterly Report - Third Quarter 2017: Global Update: UK Criminal Finance Act 2017: Immediate Considerations...

by Dechert LLP on

UK asset managers, non-UK asset managers carrying on business in the UK and the funds they manage are within the scope of the new corporate criminal offences of failing to prevent the facilitation of tax evasion. As the new...more

Belgium issues new law on anti-money laundering transposing the fourth EU Directive and implementing the FATF recommendations

by White & Case LLP on

The Belgian State Gazette published on Friday 6 October 2017 the law of 18 September 2017 preventing money laundering and financing of terrorism and limiting the use of cash (the"Law"). The Law replaces the law of 11 January...more

[Webinar] Developments and Trends in Cross-Border Regulation and Enforcement: What You Need to Know for 2018 - October 24th,...

by BakerHostetler on

Join BakerHostetler for a complimentary webinar on trends and predictions for 2018 in the cross-border government investigations and enforcement landscape. This year has seen a marked uptick in international coordination in...more

Asset Management Regulatory Roundup - October 2017 - Issue 7

by Dechert LLP on

A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on ESMA's updated Q&As on the Benchmark Regulation and European Commission delegated...more

CFTC’s Enforcement Division Announces New Focus on Self-Reporting

Upon discovering a potential violation, a company is often faced with the dilemma of whether to self-report the incident to its regulator or attempt to deal with the incident through exclusively internal means. On September...more

Top Ten International Anti-Corruption Developments for August 2017

by Morrison & Foerster LLP on

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

China’s ‘One Belt, One Road’ Initiative Creates Opportunities and Regulatory Challenges

In a time of shifting opinions on the benefits of globalization, China’s “One Belt, One Road” initiative (OBOR) offers an unexpected bright spot for multinational companies able and willing to participate in this...more

The Evolution and Challenges of Global Anti-Corruption Efforts

With the current layer-upon-layer of international regulations, guidance, and standards, where do multi-national companies start in order to remain compliant, especially where anti-bribery challenges differ among markets and...more

The Martoma Decision: The Second Circuit Tackles Insider Trading Post-Salman

by Morgan Lewis on

The decision could alter the landscape of tipping liability. The US Court of Appeals for the Second Circuit issued another landmark insider trading opinion on August 23. In United States v. Martoma, the Second Circuit...more

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation...more

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation...more

Red Notice Newsletter - July 2017

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation...more

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