News & Analysis as of

Risk-Based Approaches Regulatory Requirements

Wenning Environmental

Will damage, impact, and risk assessment get “DOGE’d”?

Wenning Environmental on

President Trump’s January 31, 2025, executive order (EO), Unleashing Prosperity Through Deregulation, and the White House Council on Environmental Quality (CEQ) February 25 interim final rule removing CEQ regulations...more

Troutman Pepper Locke

NAIC Establishes the Risk-Based Capital Model Governance (EX) Task Force in 2025

Troutman Pepper Locke on

The 2025 National Association of Insurance Commissioners (NAIC) President and North Dakota Insurance Commissioner Jon Godfread has stated that...more

Polsinelli

The EU AI Act is Here, and the Clock is Ticking!

Polsinelli on

The EU AI Act is here, folks! Now that the Act has been officially published in the OJEU, it will go into force in 7 days on August 2, 2024. Now is the time to set your timers to align with the compliance calendar...more

Morgan Lewis - All Things FinReg

Agencies Emphasize Risk-Based Due Diligence Approach for Charities and Nonprofits

The Agencies issued a joint Fact Sheet that lists considerations for a risk-based approach when it comes to charities and nonprofits. While the Fact Sheet purports to not impose additional obligations on banks, it is hard to...more

Orrick, Herrington & Sutcliffe LLP

FinCEN and Banking Regulators Clarify Due Diligence Requirements for Politically Exposed Persons

The Financial Crimes Enforcement Network (FinCEN) and federal banking regulators recently issued a Joint Statement intended to clarify the due diligence obligations of banks under the Bank Secrecy Act (BSA) regarding...more

Morgan Lewis

Singapore's Amended Listing Rules: Risk-Based Approach to Quarterly Reporting, Continuous Disclosures

Morgan Lewis on

With effect from February 7, the Mainboard Rules and Catalist Rules of the Singapore Exchange Securities Trading Limited will be revised to adopt a risk-based approach to quarterly reporting and to enhance the continuous...more

Foodman CPAs & Advisors

Deficiencies or Weaknesses in an OFAC Sanctions Compliance Program can lead to OFAC Administrative Actions

On May 2, 2019, OFAC (Office of Foreign assets Control) published guidance titled “A Framework for OFAC Compliance Commitments”.  The purpose of the OFAC Framework guidance is to encourage a “risk-based” approach to...more

Ballard Spahr LLP

AMA Updates AML Best Practices for AML Compliance

Ballard Spahr LLP on

AMA Details Components of a Strong AML/BSA Program - Earlier this month, the American Gaming Association (“AGA”) released an updated Best Practices for Anti-Money Laundering (“AML”) Compliance (“Best Practices Guidance”)...more

Kramer Levin Naftalis & Frankel LLP

Fed Proposes Capital Rule for S&L-Owning Insurers — What You Need to Know

Insurers that own depository institutions (DIs), mainly mutual insurers owning savings and loans (S&Ls), have been waiting since the 2010 adoption of the Dodd-Frank Wall Street Reform and Consumer Protection Act for specific...more

Vedder Price

Investment Services Regulatory Update - February 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues Guidance on Cryptocurrency-related Holdings - On January 18, 2018, the staff of the SEC’s Division of Investment...more

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