The banking sector should pay close attention to the recent bipartisan bill supporting marijuana legal reform (the “Strengthening the Tenth Amendment Through Entrusting States Act” or the “STATES Act”) given the increasing difficulty current law creates even for those banks that are deliberately avoiding the cannabis sector. Post mid-term elections, … Read More
The past few days have seen several interesting developments in the law and regulation of digital tokens. Each action reflects an intense focus by U.S. regulators to clarify the treatment of digital tokens, from those issued by startups in initial coin offerings (ICOs) to the more “traditional” cryptocurrencies … Read More
In its first hearing of the year, the Senate Committee on Banking, Housing, and Urban Affairs expressed support for potential reforms to the U.S. anti-money laundering (“AML”) and countering the financing of terrorism (“CTF”) framework. The hearing focused on the relationships among financial institutions, regulators, and … Read More
2017 Enforcement Trends: Mid-Year Review
Please join us for a discussion on some of this year’s key enforcement trends and developments in U.S. Sanctions and Anti-Money Laundering.
- Trends and expectations of the new Administration
- Notable developments in U.S. sanctions programs
- Review of AML initiatives
- Recent enforcement actions
On December 1, 2016, the Financial Action Task Force (“FATF”) released a peer assessment of the United States’ anti-money laundering and combatting the financing of terrorism (“AML/CFT”) regime. This is the first peer assessment of the United States since June 2006.
The FATF assessment found that the U.S. AML/CFT framework … Read More