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Today's Popular Updates › Enforcement › Financial Institutions

A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +
A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous thirty days. less -
K&L Gates LLP

AML Update: SEC and FinCEN Propose Anti-Money Laundering and Customer Identification Programs for Investment Advisers

K&L Gates LLP on

Introduction - On 13 May 2024, the Securities and Exchange Commission (SEC) and the US Department of Treasury’s (DoT) Financial Crimes Enforcement Network (FinCEN) jointly proposed rulemaking to implement Section 326 of the...more

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...more

Davis Wright Tremaine LLP

CFTC Division of Enforcement, FY 2023: A Year in Review and Looking Ahead

Davis Wright Tremaine LLP on

On November 7, 2023, the Division of Enforcement ("Division") of the United States Commodity Futures Trading Commission ("CFTC") released its annual report of the results of its enforcement efforts, announcing that it had...more

Hudson Cook, LLP

New York DFS Finalizes Amendments to Cybersecurity Regulations

Hudson Cook, LLP on

On November 1, 2023 the New York Department of Financial Services ("DFS") released amended cybersecurity regulations ("Regulations"). These changes will impose additional controls, demand more frequent risk assessments, and...more

American Conference Institute (ACI)

Navigating U.S. Sanctions and Export Control Restrictions

American Conference Institute (ACI) on

Over the last several months, companies have become entangled in an increasingly complex web of new and expanded sanctions and export control restrictions related to Russia in response to its war on Ukraine. The current...more

Butler Snow LLP

What is the Message from Artificial Intelligence

Butler Snow LLP on

When announcing the much publicized $125 million fine against JP Morgan for violating recordkeeping rules, the U.S. Securities and Exchange Commission (“SEC”) Chair stated that financial institutions “did not act as if they...more

Pillsbury Winthrop Shaw Pittman LLP

What to Expect from the New York Department of Financial Services in 2023

Pillsbury Winthrop Shaw Pittman LLP on

In 2023, the NYDFS is poised to finalize several significant new regulations and will likely continue its aggressive cybersecurity, anti-money laundering (AML) and consumer protection enforcement. The New York Department of...more

Dechert LLP

DOJ Expands Cryptocurrency Enforcement with Formation of Prosecutors Network

Dechert LLP on

In response to President Biden’s March 9, 2022 Executive Order on digital assets, the DOJ announced the formation of a new network of prosecutors tasked with becoming specialists in investigating and prosecuting alleged...more

Faegre Drinker Biddle & Reath LLP

NYDFS Releases Pre-Proposed Second Amendment to its Cybersecurity Regulations, 23 NYCRR 500

Faegre Drinker Biddle & Reath LLP on

On July 29, 2022, the New York Department of Financial Services (NYDFS) published the pre-proposed second amendment to its Cybersecurity Regulations, 23 NYCRR 500 (Part 500), that if adopted, would likely require numerous...more

Sheppard Mullin Richter & Hampton LLP

The Department of Justice Sets Cryptocurrency Squarely in its Sights

Sheppard Mullin Richter & Hampton LLP on

The Department of Justice is aggressively scrutinizing participants in the cryptocurrency markets—including “financial institutions working with cryptocurrency”—to thwart the use of the technology as a vehicle for money...more

Ward and Smith, P.A.

Should You Bank a Virtual Currency Business?

Ward and Smith, P.A. on

Virtual currencies like Bitcoin and Ethereum have spawned many types of businesses that need banking services. Many banks "de-risk" -- do not provide banking services -- to these businesses. Many virtual currency...more

Wilson Sonsini Goodrich & Rosati

Anti-Money Laundering Obligations for Virtual Currency Companies

Wilson Sonsini Goodrich & Rosati on

Virtual currency businesses are under scrutiny by U.S. anti-money laundering (AML) regulators. Earlier this year, U.S Treasury Secretary Steven Mnuchin emphasized that virtual currencies are subject to AML regulations. He...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - June 2015

Manatt, Phelps & Phillips, LLP on

The Unfolding FIFA Scandal: Will the DOJ Show the Banks a Red Card? - Why it matters: The worldwide soccer community has for years decried the brazen corruption that permeated FIFA, international soccer’s governing...more

Latham & Watkins LLP

Beyond Switzerland: Preparing for the Fallout from FATCA and Other Global Transparency Initiatives

Latham & Watkins LLP on

You have implemented FATCA; what comes next? Will your company be the next witness in a US tax investigation? Financial institutions around the world must now prepare to respond to anticipated inquiries and investigations as...more

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