Treasury issued a final rule requiring certain investment advisers to establish an AML/CFT Program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN (Final Rule).
The Final Rule applies to...more
9/11/2024
/ AML/CFT ,
Bank Secrecy Act ,
Customer Due Diligence (CDD) ,
Customer Identification Program (CIP) ,
Final Rules ,
FinCEN ,
Investment Adviser ,
Notice of Proposed Rulemaking (NOPR) ,
Policies and Procedures ,
Registered Investment Advisors ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
The Proposed Rule would require registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish, document and maintain written customer identification programs (CIPs).
The Proposed Rule comes...more
6/5/2024
/ AML/CFT ,
Bank Secrecy Act ,
Beneficial Owner ,
Customer Identification Program (CIP) ,
Exempt Reporting Advisers (ERAs) ,
Financial Services Industry ,
FinCEN ,
Investment Adviser ,
Notice Requirements ,
Proposed Rules ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC)
Treasury proposed a new rule that would require investment advisers to establish an AML/CFT program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN (Proposed Rule).
The Proposed Rule...more
3/13/2024
/ AML/CFT ,
Bank Secrecy Act ,
Beneficial Owner ,
Customer Due Diligence (CDD) ,
Exempt Reporting Advisers (ERAs) ,
FinCEN ,
Investment Adviser ,
Investors ,
Mutual Funds ,
National Security ,
New Rules ,
Notice of Proposed Rulemaking (NOPR) ,
Patriot Act ,
Private Funds ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs) ,
Training ,
U.S. Treasury
The Biden Administration Issues Executive Order on Artificial Intelligence -
On October 30, 2023, President Biden signed an Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence (the “Order”)...more
11/17/2023
/ Artificial Intelligence ,
Biden Administration ,
Chief Information Security Officer (CISO) ,
Cyber Crimes ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
NYDFS ,
Ransomware ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
SolarWinds
UK-U.S. Data Bridge Approved -
The UK has approved an extension to the EU-U.S. Data Privacy Framework (DPF) called the ‘UK-U.S. Data Bridge,’ which facilitates data flows from the UK to the U.S. From October 12, 2023...more
10/6/2023
/ Amazon ,
Artificial Intelligence ,
Consumer Privacy Rights ,
Cross Border Privacy Rules (CBPR) ,
Delaware ,
EDPS ,
Enforcement Actions ,
EU ,
European Data Protection Board (EDPB) ,
Federal Trade Commission (FTC) ,
Framework Agreement ,
Gramm-Leach-Blilely Act ,
Health Insurance Portability and Accountability Act (HIPAA) ,
International Data Transfers ,
Regulatory Oversight ,
State Data Privacy Laws ,
UK ,
UK GDPR ,
Unfair or Deceptive Trade Practices
California Court Pauses Enforcement of Most Recent CCPA Regulations until March 2024 -
On June 30, 2023, the Superior Court of California, County of Sacramento (California Chamber Of Commerce v. California Privacy...more
7/21/2023
/ Biden Administration ,
California ,
California Consumer Privacy Act (CCPA) ,
Cross-Border ,
Cybersecurity ,
Data Privacy ,
Enforcement ,
EU ,
European Commission ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
NYDFS ,
Presidential Nominations ,
Privacy Framework ,
Proposed Regulation ,
Regulatory Agenda
Proposed EU-US Data Transfer Agreement Continues to Face Obstacles in Parliament -
As we reported in Issue 29 of Cyber Bits, the European Parliament Committee on Civil Liberties, Justice and Home Affairs (the “EP...more
4/28/2023
/ Artificial Intelligence ,
Biden Administration ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
EU-US Privacy Shield ,
European Commission ,
European Parliament ,
Federal Trade Commission (FTC) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
International Data Transfers
SEC Chair Gensler Indicates Commission is Looking to Update SEC’s Regulation S-P -
On September 28, 2022, Securities and Exchange Commission (“SEC” or the “Commission”) Chairman Gary Gensler appeared via video at the...more
10/14/2022
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Algorithms ,
Anti-Discrimination Policies ,
Artificial Intelligence ,
Biden Administration ,
Broker-Dealer ,
Cloud Service Providers (CSPs) ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
EU ,
EU-US Privacy Shield ,
Federal Trade Commission (FTC) ,
Foreign Trade Regulations ,
Gramm-Leach-Blilely Act ,
Hackers ,
Information Commissioner's Office (ICO) ,
International Data Transfers ,
Investment Adviser ,
Investment Companies ,
Privacy Framework ,
Regulation S-P ,
Request For Information ,
Right of Access ,
Securities and Exchange Commission (SEC) ,
Subject Access Request (SAR) ,
Title V ,
U.S. Commerce Department ,
Uber ,
UK ,
UK GDPR