The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more
After years of waiting and multiple drafts, the final version of the EU Regulatory Technical Standards on risk retention was published in the Official Journal of the European Union on 18 October 2023. In addition, we have...more
The Financial Action Task Force ("FATF") is the global standard-setter on anti-money laundering ("AML"), countering terrorist financing ("CFT") and counter proliferation financing. FATF's standards, also referred to as...more
The Financial Action Task Force has published a Report to G20 Finance Ministers and Central Bank Governors on its ongoing work to fight money laundering and terrorist financing. The report summarizes the FATF's work...more
The G20 Leaders published the Priorities for the 2017 G20 Summit in Hamburg on July 7 and 8, 2017. The document sets out the areas in which the G20 will build on previous work and further areas...more
The Joint Committee of the European Supervisory Authorities published joint Guidelines on the characteristics of a risk-based approach to anti-money laundering and terrorist financing supervision. The ESAs consist of the...more
Over the past two years, financial regulatory bodies in the United States and Europe have increasingly emphasized consumer due diligence (“CDD”) by financial institutions as a means to combat money laundering and terrorist...more
On October 21, the joint committee of the three European Supervisory Authorities (ESAs, comprising the European Banking Authority, the European Securities and Markets Authority, and the European Insurance and Occupational...more