Too Big To Fail in the Dodd-Frank Era
President Donald Trump Accuses Banks of Undermining GENIUS Act, Urges Passage of CLARITY Act- On March 4, Trump posted on Truth Social accusing the banking industry of undermining the Guiding and Establishing National...more
The European Commission (EC) has announced that it has listed Russia as a high-risk country with strategic deficiencies in its anti-money laundering and counter-terrorist financing frameworks (AML/CFT) pursuant to the EU's...more
The Financial Action Task Force (FATF) has issued its latest updates to the grey list and black list, removing four jurisdictions from increased monitoring while leaving the high-risk list unchanged. Our Investment Funds Team...more
The CFATF has published the 2nd Enhanced Follow-up Report in relation to the BVI. The CFATF has upgraded the BVI's technical compliance rating in relation to four of the FATF's 40 Recommendations....more
The Financial Action Task Force (FATF) has announced the launch of a new National Risk Assessment (NRA) toolkit aimed at enhancing countries' ability to identify and address money laundering risks. The toolkit supports a...more
Canada’s financial sector is facing unprecedented scrutiny, rising enforcement, and evolving compliance risks – are you ready? Join top regulators and industry leaders at CI's 24th Annual Canadian Forum on Anti-Money...more
The Securities and Exchange Commission (SEC) has been moving quickly to change course on its approach to regulating digital assets. Even before President Trump issued executive order 14178, titled “Strengthening American...more
On Jan. 21, 2025, Mark T. Uyeda, the acting chairman of the U.S. Securities and Exchange Commission (SEC), announced the launch of a cryptocurrency task force. This task force, led by SEC Commissioner Hester Peirce, with...more
The recent whiplash regarding the validity of the Corporate Transparency Act (CTA)—it was enjoined just to particular parties, then enjoined nationwide, then un-enjoined, then enjoined again, while other courts let it...more
On September 19th, 2024, the CSSF published its 2023 annual report, highlighting key regulatory challenges, particularly in the realm of crypto-assets following the implementation of the Markets in Crypto-Assets Regulation...more
The international Financial Action Task Force (FATF) recently issued two announcements updating the list of countries and jurisdictions at high risk of money laundering, terrorist financing, and proliferation financing, and...more
The Serious Fraud Office’s strategy for 2024 to 2029 indicates aspiration to be a more effective agency and to incentivise personnel. On 18 April 2024, the UK’s Serious Fraud Office (SFO) published an ambitious, albeit...more
The Financial Action Task Force ("FATF") has announced that the UAE has been removed from its 'grey list' following substantial improvement in the stringency of its anti-money laundering ("AML") and combating the financing of...more
The UK Financial Conduct Authority (FCA) launched in September a review of the treatment of domestic politically exposed persons (PEPs) by UK-regulated financial services firms. This review will look at firms’ arrangements...more
Summary - In June 2023, the Financial Action Task Force (FATF) issued a report addressing the progress made by the UAE in improving its level of compliance with the FATF Standards, since the FATF’s previous Mutual...more
In this Weekly Roundup Issue. The Commodity Futures Trading Commission’s (CFTC) Division of Enforcement unveiled two new task forces aimed at tackling derivatives market issues; and the Office of the Comptroller of the...more
The consultation sets out four potential models for reform, and also considers reform to sanctions supervision. On 30 June 2023, HM Treasury published a consultation on reforms to anti-money laundering (AML) and...more
The EU Markets in Crypto-Assets Regulation (MiCAR) was published in the Official Journal of the European Union on 9 June 2023. MiCAR is a the major, step toward an EU-wide uniform code governing crypto-assets, such as BTC,...more
El Grupo de Acción Financiera de Latinoamérica (GAFILAT) publicó el séptimo informe de seguimiento intensificado y el segundo informe de recalificación de cumplimiento técnico para Colombia. Lo anterior, para efectos de...more
Hong Kong has traditionally been a hub for digital asset businesses in the region. As regulators in Hong Kong are working to tighten the regulatory regime on virtual asset exchanges, market players and investors seeking to...more
Financial Firm Launches Crypto Group, MakerDAO Votes to Integrate with Bank - A major multinational financial institution recently “announced the formation of its Digital Assets and Financial Markets group.” According to...more
The U.S. Department of Commerce is seeking comments from the public to inform its development of a framework for enhancing U.S. competitiveness in and leveraging digital asset technologies. This framework is mandated by the...more
The Financial Action Task Force has published a report on the effectiveness of FATF member states' efforts to tackle money laundering and counter terrorism financing. The report is part of the FATF's 2019 Strategic Review...more
In this Issue. The Financial Crimes Enforcement Network (FinCEN) published an alert warning financial institutions of possible efforts to evade U.S.-imposed sanctions on Russia and Belarus; the U.S. Department of the Treasury...more
The rise of cryptocurrency and other virtual assets has pushed regulatory and supervisory bodies responsible for anti-money-laundering rules around the world to develop new guidance and regulations for persons and businesses...more