News & Analysis as of

AML/CFT Coronavirus/COVID-19

Walkers

Fintech update: Understanding the travel rule for VASPs

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The Jersey Financial Services Commission (JFSC) has recently shared its guidance outlining what Virtual Asset Service Providers (VASPs) need to do to follow the 'travel rule'. This article simplifies the concept of the travel...more

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - September 2022

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This latest edition of the regulatory initiatives paper sets out at a high level the core regulatory issues that are likely to impact private fund managers in the coming months, including an overview of the key actions needed...more

Nutter McClennen & Fish LLP

Nutter Bank Report: July 2021

CFPB Amends Mortgage Rule to Protect Borrowers Affected by COVID-19 The CFPB issued a final rule to amend its Regulation X—which implements the Real Estate Settlement Procedures Act—to assist home mortgage loan borrowers...more

Goodwin

House Votes to Repeal OCC True Lender Rule

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In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

K2 Integrity

FATF Plenary Outcomes: October 21-23, 2020

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Beginning on October 21, 2020, the Financial Action Task Force (“FATF”) held its three-day Plenary meeting virtually. It was the first Plenary of Germany’s two-year Presidency. As part of the Plenary outcomes, the FATF...more

Foodman CPAs & Advisors

GAFILAT Identifica Amenazas Emergentes de Lavado de Dinero/Financiamiento del Terrorismo

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GAFILAT (Grupo de Acción Financiera de América Latina) publicó una Segunda Actualización del Informe Regional de Amenazas de Lavado de Dinero (2017-2018) que incluye: ANEXO VI: AMENAZAS RELACIONADAS CON LA PANDEMIA COVID-19....more

Hogan Lovells

Global Payments Newsletter, September 2020

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Key developments of interest over the last month include: United Kingdom: The Payment Systems Regulator has published its interim report on its market review into the supply of card-acquiring services. ...more

Hogan Lovells

Financial institutions general regulatory news, September 2020 # 2

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PRA PS20/20: response to CP3/20 occasional paper - Following its March 2020 occasional consultation paper (CP3/20), the UK Prudential Regulation Authority (PRA) has published a policy statement, PS20/20, setting out its...more

A&O Shearman

Financial Action Task Force Publishes 12-Month Review on Revised FATF Standards for Virtual Assets

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The FATF has published the results of its 12-month review into the revised FATF standards published in June 2019, designed to help tackle money laundering and terrorist financing risks connected with virtual assets and...more

Hogan Lovells

Financial institutions general regulatory news, August 2020 #3

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COVID-19: FCA guidance for insurance and premium finance firms on customers in temporary financial difficulty - On 11 August 2020, the UK Financial Conduct Authority (FCA) published updated finalised guidance setting out...more

Hogan Lovells

Financial institutions general regulatory news, August 2020 #2

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AML/CTF supervision: HM Treasury annual report - The Bank of England (BoE) has published the Financial Stability Report for August 2020 and the financial policy summary and record of the meetings of its Financial Policy...more

Hogan Lovells

Financial institutions general regulatory news, July 2020 #2

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LIBOR transition and PRA resolution-related rules: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement outlining the PRA's view on the implications of LIBOR transition for contracts in...more

Foodman CPAs & Advisors

El FATF identifica las Amenazas de Lavado de Dinero derivadas de la Crisis del Covid-19

En mayo del 2020, el FATF (GAFI) publicó nuevas amenazas y vulnerabilidades de lavado de dinero y financiamiento del terrorismo derivadas de la crisis COVID-19. El documento destaca cómo el fraude, el cibercrimen, la mala...more

Foodman CPAs & Advisors

The FATF identifies Money Laundering Threats arising from the Covid-19 Crisis

On May, 2020, the FATF published new money laundering and terrorist financing threats and vulnerabilities arising from the COVID-19 crisis.  The document highlights how fraud, cybercrime, misdirection of government funding...more

Hogan Lovells

Financial institutions general regulatory news, June 2020

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COVID-19: FCA speech on expectations of wealth management and advice industry - On 4 June 2020, the UK Financial Conduct Authority (FCA) published a speech by Megan Butler, FCA Executive Director of Supervision,...more

Ballard Spahr LLP

FATF Issues Paper on COVID-19 Enhanced AML and Fraud Risks

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On May 4, the Financial Action Task Force (“FATF”) issued a paper entitled “Covid-19-Related Money Laundering and Terrorist Financing – Risk and Policy Responses (“Paper”). ...more

Ballard Spahr LLP

Financial Action Task Force Grades America’s AML Compliance

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Second Post in a Two-Post Series on Recent FATF Activity - As we just blogged, the Financial Action Task Force (“FATF”) issued a statement from its President on COVID-19 and measures to combat illicit financing during the...more

Ballard Spahr LLP

Financial Action Task Force Update: Statement on COVID-19’s Implications for AML Programs

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First Post in a Two-Post Series on Recent FATF Activity - Members presumably working from home, the Financial Action Task Force (“FATF”) was active last week, first issuing its 3rd Enhanced Follow-up Report & Technical...more

Hogan Lovells

Financial crime regulatory news, April 2020

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COVID-19: EBA statement on actions to mitigate financial crime risks - On 31 March 2020, the European Banking Authority (EBA) published a statement on actions to mitigate financial crime risks in light of COVID-19....more

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