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Foodman CPAs & Advisors

BIS New Guidance for FI’s Best Practices

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On 10/9/24, the Bureau of Industry and Security (BIS) within the Department of Commerce has issued guidance aimed at financial institutions (FIs), outlining best practices for adherence to the Export Administration...more

K2 Integrity

First Ever Targeted Guidance On Financial Institutions’ Compliance With Export Administration Regulations

K2 Integrity on

On 9 October 2024, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) published its first ever unilateral guidance specifically addressed to financial institutions (FIs). The Guidance to Financial...more

Hogan Lovells

U.S. prohibits imports of Russian gold and imposes new sanctions in latest measures against Russia

Hogan Lovells on

The U.S. Government has imposed additional punitive measures against Russia in response to Russia’s actions in Ukraine.  The new measures include a prohibition on imports of Russian gold into the United States, new SDN and...more

Ballard Spahr LLP

28 North Korean and 5 Chinese Bankers Accused of a $2.5 Billion Laundering Scheme

Ballard Spahr LLP on

Indictment Again Highlights the Role of Correspondent Banking in Money Laundering - On May 28, 2020, the U.S. Department of Justice (“DOJ”) unsealed a 50-page indictment against 28 North Korean and 5 Chinese bankers...more

Foodman CPAs & Advisors

US Persons and Financial Institutions: Beware when engaging financially with Venezuela

Foodman CPAs & Advisors on

On 8/25/17, President Donald Trump signed an Executive Order (EO) restricting and prohibiting certain transactions between US Persons and Venezuela. The transactions that are prohibited by US Persons apply wherever a US...more

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