News & Analysis as of

Investors Anti-Money Laundering

Freiberger Haber LLP

Enforcement News: SEC Charges Bank With Misleading Investors About The Strength Of Its BSA/AML Compliance Program And Its...

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The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks and other financial institutions. The BSA is designed to, among...more

Strafford

[Webinar] Corporate Transparency Act's Impact on Real Estate: Reporting Companies; Exemptions; Beneficial Ownership Reporting -...

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This CLE webinar will examine the Corporate Transparency Act (CTA), effective Jan. 1, 2024, and its impact on real estate entities and transactions, including who is considered a "reporting company" subject to new beneficial...more

Proskauer - The Capital Commitment

The Macro-Economic Environment: What It Means for VC Firms

Hope for a resurgence during 2024 in Venture Capital fundraising, investment, and returns was strong at the beginning of this year, with optimism fueled by the recovery in 2023 of U.S. stock markets (lead by the performance...more

Cadwalader, Wickersham & Taft LLP

Under Control March 2024 - How to Address Your Control Issues

One of the important components of the collateral package for a subscription finance facility is the lender’s perfected security interest in the fund’s bank deposit account into which the actual cash constituting the proceeds...more

Pillsbury Winthrop Shaw Pittman LLP

FinCEN’s Proposed Rule to Regulate Investment Advisers: The Questions Industry Should Be Following

FinCEN is focused on customer due diligence, and both the 2024 Investment Adviser Risk Assessment and proposed rule indicate that investment advisers will be expected to assess customer identity, business model, and sources...more

Strafford

[Webinar] Corporate Transparency Act's Impact on Real Estate: Reporting Companies; Exemptions; Beneficial Ownership Reporting -...

Strafford on

This CLE webinar will examine the Corporate Transparency Act (CTA), effective Jan. 1, 2024, and its impact on real estate entities and transactions, including who is considered a "reporting company" subject to new beneficial...more

Akin Gump Strauss Hauer & Feld LLP

FinCEN Proposes New Rule to Expand Anti-Money Laundering Requirements for Investment Advisers

Key Points - On February 13, 2024, FinCEN issued an NPRM that seeks to include certain investment advisers in the definition of “financial institution” under the BSA. As described in the NPRM as well as in FinCEN’s fact...more

A&O Shearman

EU Securitisation Regulation: good news for Cayman SSPEs

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As the EU removes the Cayman Islands from the EU AML/CFT blacklist with effect from 7 February 2024, concerns and barriers for EU sell- and buy-side parties on securitisations involving Cayman SSPEs fall away....more

Tonkon Torp LLP

The Impact of the Corporate Transparency Act on Real Estate Holding Companies

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The Corporate Transparency Act (CTA), which goes into effect January 1, 2024, will affect businesses across all industries, including many real estate investment and holding companies. As the CTA is just now coming into...more

Procopio, Cory, Hargreaves & Savitch LLP

Decoding the Corporate Transparency Act: Navigating the Changes Ahead

The reporting requirements for beneficial ownership information under the Corporate Transparency Act (CTA) will come into effect on January 1st, 2024. The CTA, a bipartisan law enacted by Congress on January 1st, 2021,...more

White & Case LLP

SEC Lists Crypto and Information Security Among its 2024 Examination Priorities

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On October 16, 2023, the US Securities and Exchange Commission ("SEC") Division of Examinations ("Examination Division") announced its 2024 Examination Priorities. Registrants should ensure that policies, procedures, and...more

Vedder Price

SEC Staff Issues Risk Alert Regarding Observations from Anti Money Laundering Compliance Examinations of Broker Dealers

Vedder Price on

On July 31, 2023, the SEC’s Division of Examinations issued a risk alert presenting observations regarding deficiencies with respect to compliance with key anti-money laundering (AML) requirements observed in compliance...more

K2 Integrity

SEC Division of Examination Risk Alert Highlights Deficiencies in Broker-Dealers’ AML Compliance Programs

K2 Integrity on

The U.S. Securities and Exchange Commission (SEC) is responsible for protecting investors and ensuring the integrity of the securities markets. As part of this mission, the SEC requires broker-dealers to comply with...more

K&L Gates LLP

The Dual Licensing Regime for Virtual Asset Trading Platforms In Hong: Kong Key Highlights – Part 2

K&L Gates LLP on

In our previous alert, we provided an overview of the new Dual Licensing Regime and highlighted the consequences of relevant breaches of Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), as amended...more

Morrison & Foerster LLP

Top 5 SEC Developments for July 2023

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

K2 Integrity

Crypto in a Time of Uncertainty

K2 Integrity on

On 07 June 2023, K2 Integrity hosted a webinar on the state of cryptocurrency and digital assets in a rapidly evolving regulatory landscape. A discussion was held with Bryan Stirewalt, senior managing director at K2...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for December 2022

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

Kohn, Kohn & Colapinto LLP

Danske Bank Scandal Proves Need for AML Whistleblower Law

Nearly 10 years after former employee Howard Wilkinson blew the whistle on Danske Bank, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have issued over $2 billion in penalties against the...more

Proskauer - Blockchain and the Law

In Response to the White House’s Executive Order, FSOC Releases Digital Asset Stability Report with Legislative Recommendations

On October 3, 2022, the Financial Stability Oversight Council (“FSOC”) – a collaborative body formed under the Dodd-Frank Act composed of state and federal regulators and tasked with identifying risks and responding to...more

Dechert LLP

New developments to open up the Hong Kong virtual asset industry

Dechert LLP on

Contrary to the market's expectation that it would maintain tight regulation of the virtual asset industry, during the Hong Kong Fintech Week 2022, the Hong Kong government announced significant initiatives to open up the...more

Dechert LLP

Upcoming Regulatory Initiatives Impacting Private Fund Managers - September 2022

Dechert LLP on

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

Proskauer Rose LLP

Q&A: The Bottom Line of Russian Sanctions’ Impact on AML for Private Funds

Proskauer Rose LLP on

Earlier this spring, following the Russian invasion of Ukraine, the Biden administration issued a series of executive orders imposing strong sanctions against Russia. Over the last few months, those sanctions have continued...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech - Wilson Sonsini Quarterly Fintech Update - July 2022

Welcome to Wilson Sonsini’s Focus on Fintech quarterly newsletter. This quarterly newsletter provides ongoing analysis and commentary on regulatory developments impacting the fintech industry....more

Oberheiden P.C.

Tokenization Lawyer – 5 Reasons Why You Might Need One

Oberheiden P.C. on

What is Tokenization? Tokenization is the process of converting an asset into a token on the blockchain. It operates by dividing—or fractionalizing—the ownership of an asset (whether the asset is a piece of real estate or...more

Vinson & Elkins LLP

In the Midst of Yet Another Hot Month for Crypto Prosecutions, DOJ Recruits Private Sector Companies and Foreign Governments to...

Vinson & Elkins LLP on

Speaking at the Munich Cyber Security Conference on February 17, 2022, Deputy Attorney General Lisa O. Monaco announced that the U.S. Department of Justice (“DOJ”) plans to prioritize “cyber disruption,” foster international...more

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