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Crypto Currencies, Regulatory, US Banking, Regulatory, US Regulatory, South Africa, Tax

US: Joint Statement on BSA Act Due Diligence requirements for Politically Exposed Persons

www.fincen.gov/sites/default/files/shared/PEP%20Interagency%20Statement_FINAL%20508.pdf www.findknowdo.com/news/08/24/2020/agencies-clarify-cdd-requirements-politically-exposed-persons?utm ropesgrayinsights.passle.net/post/102gdwv/us-regulators-issue-joint-statement-on-cdd-for-politically-exposed-persons buckleyfirm.com/blog/2020-08-25/agencies-clarify-bsaaml-due-diligence-requirements-%E2%80%9Cpolitically-exposed-persons%E2%80%9D#page=1 www.sidley.com/en/insights/newsupdates/2020/08/joint-statement-seeks-to-provide-additional-guidance-regarding-customer-due-diligence www.rahmanravelli.co.uk/articles/us-clarification-of-due-diligence-on-politically-exposed-persons/www.whitecase.com/publications/alert/fincen-and-us-federal-banking-agencies-clarify-risk-based-obligationswww.srz.com/resources/fincen-and-banking-agencies-provide-clarification-on-pep.html See also:bit.ly/2EfDCB4bit.ly/3aT2n1C 0
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Money Laundring, Regulatory, US

UAE: Tax Audit Penalties

waselandwasel.com/articles/landmark-ruling-cancels-tax-audit-penalties/ See also:globalcompliancenews.com/united-arab-emirates-federal-courts-issues-a-landmark-judgment-reversing-all-penalities-imposed-by-the-fta-on-undue-excise-tax-07082020/?utm 0
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Litigation, Regulatory, Tax, UAE Regulatory, Risk Management, Singapore

Trends: Crypto-currencies and the FATF ‘travel rule’

www.mishcon.com/news/crypto-and-the-fatf-travel-rule See also:blockchain.bakermckenzie.com/2020/09/08/three-swiss-companies-conduct-the-first-automated-travel-rule-compliant-bitcoin-transaction-in-switzerland/#page=1 www.covfinancialservices.com/2020/09/financial-action-task-force-fatf-issues-virtual-assets-red-flag-indicators-of-money-laundering-and-terrorist-financing/#page=1 www.gtlaw.com/en/insights/2020/10/frb-and-fincen-propose-significant-amendments-to-recordkeeping-and-travel-rule-regulationswww.k2integrity.com/en/knowledge/policy-alerts/proposal-to-revise-recordkeeping-and-travel-rule-requirements-poses-implementation-challengeswww.venable.com/insights/publications/2020/11/bsa-alchemy-while-lowering-the-recordkeepingviews.gibraltarlaw.com/post/102gtwx/fatf-travel-rule-transposed-into-gibraltar-lawwww.hk-lawyer.org/content/distributed-ledger-technology-law-101-series-what-zero-knowledge-proof-%E2%80%9Czkp%E2%80%9Dwww.skadden.com/insights/publications/2022/01/2022-insights/regulation-enforcement-and-investigations/tax-law-struggles-to-keep-pacewww.bennettjones.com/Blogs-Section/Canadian-Cryptocurrency-Companies-Join-Global-Initiative-to-Combat-Money-Launderingwww.newbalkanslawoffice.com/cryptocurrency-the-risk-of-not-applying-the-aml-and-kyc-requirements/hallandwilcox.com.au/thinking/financial-stability-board-weighs-in-on-international-regulation-and-supervision-of-crypto-asset-activities/finreg.shearman.com/Crypto-Asset-Market-Turmoil-Financial-Stability-B#page=1 Update:blockchain.bakermckenzie.com/2021/07/01/most-countries-have-failed-to-implement-the-fatfs-travel-rule/#page=1www.fatf-gafi.org/publications/fatfrecommendations/documents/second-12-month-review-virtual-assets-vasps.htmlwww.kimchang.com/en/insights/detail.kc?sch_section=4&idx=24321newtech.law/en/how-the-travel-rule-could-change-the-world-of-decentralised-finance/www.fatf-gafi.org/publications/fatfrecommendations/documents/targeted-update-virtual-assets-vasps.htmlwww.fatf-gafi.org/media/fatf/documents/recommendations/Targeted-Update-Implementation-FATF%20Standards-Virtual%20Assets-VASPs.pdfhallandwilcox.com.au/thinking/fatf-releases-targeted-update-on-virtual-asset-and-virtual-asset-service-providers-implementation-of-standards/ 0
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Money Laundring, Regulatory, Risk Management, Trends

Hong Kong: HKMA says banks need to take on climate risks and spells out expectations

riskandcompliance.freshfields.com/post/102gdrt/hkma-says-banks-need-to-take-on-climate-risks-and-spells-out-expectations www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2020/20200630e1a1.pdf Update:www.eyeonesg.com/2021/07/hong-kong-proposes-climate-risk-management-guidelines-for-banks/#page=1www.mayerbrown.com/en/perspectives-events/publications/2022/08/new-sfc-requirements-for-management-and-disclosure-of-climate-related-risks-first-deadline-for-compliance-is-on-20-august-2022 See also:www.seyfarth.com/news-insights/further-guidance-on-enhanced-esg-disclosures-in-hong-kong-financial-markets.html 0
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Banking, Hong Kong, Regulatory, Risk Management Regulatory, US Litigation, Regulatory, UK