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US: First ever Criminal BSA against a U.S.-Based Broker-Dealer

www.natlawreview.com/article/us-attorney-s-office-southern-district-new-york-announces-first-ever-criminal-bank www.moneylaunderingwatchblog.com/2019/01/first-criminal-prosecution-of-broker-dealer-for-violating-bsa-unveiled-by-sdny/ www.velaw.com/Insights/Bank-Secrecy-Act-s-First-Prosecution-of-a-Broker-Dealer/ 0
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Banking, Regulatory, US

EU: Brexit “No Deal” Contingency Plan – Financial Services Implications

goo.gl/j6KnmUgoo.gl/XY2YzBeuropa.eu/rapid/press-release_IP-18-6851_en.htmwww.borenius.com/2019/01/18/legal-alert-can-you-mitigate-the-effects-of-potential-hard-brexit-on-financial-services-and-instruments-between-the-eu-and-the-uk/ See also: www.fca.org.uk/news/news-stories/update-preparing-your-firm-brexitwww.fca.org.uk/publication/consultation/cp19-02.pdf www.fca.org.uk/firms/preparing-for-brexit 0
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European Union, Regulatory, UK

US: FINRA issues Report on Examination Findings

www.corporatefinancialweeklydigest.com/2018/12/articles/broker-dealer-1/finra-issues-report-on-examination-findings/www.sidley.com/en/insights/newsupdates/2018/12/finra-issues-report-on-recent-examinationswww.finra.org/newsroom/2018/finra-publishes-2018-report-examination-findings 0
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Regulatory, US

Hong Kong: HKMA set to turn up the heat on bank culture in 2019

hsfnotes.com/fsrandcorpcrime/2018/12/20/hkma-set-to-turn-up-the-heat-on-bank-culture-in-2019/sites-herbertsmithfreehills.vuturevx.com/email_handler.aspx?sid=92006105-3366-48d5-9971-6477721c26ba&redirect=https%3a%2f%2fwww.hkma.gov.hk%2fmedia%2feng%2fdoc%2fkey-information%2fguidelines-and-circular%2f2018%2f20181219e1.pdfwww.mayerbrown.com/en/perspectives-events/publications/2020/11/bank-culture-in-2020-regulatory-expectations-and-developments-in-hong-kong-and-singapore See also:www.bakermckenzie.com/en/insight/publications/2019/07/bitesize-briefingswww.alvarezandmarsal.com/insights/culture-and-conduct-financial-services-investigationswww.ropesgray.com/en/insights/podcasts/2024/04/data-powered-insights-telling-your-risk-culture-and-ethics-stories-with-data?utm 0
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Hong Kong, Regulatory, Risk Management

US: Five US agencies call for innovation to fight money laundering and terrorism financing

www.hlengage.com/five-us-agencies-call-for-private-sector-innovation-to-fight-money-laundering-and-terrorism-financing www.natlawreview.com/article/fincen-occ-and-fbi-offer-diverging-views-aml-reform-us-senate-testimony See also:How Can Artificial Intelligence Assist in Detecting Money Laundering and Terrorist Financing in Financial Institutions?, Robert Reed (ankura.com) www.natlawreview.com/article/more-aml-reform-artificial-intelligence-beneficial-ownership-and-real-estate www.whitecase.com/publications/alert/agencies-encourage-banks-innovate-bsaaml-compliance www.crowell.com/NewsEvents/AlertsNewsletters/all/FinCEN-and-Federal-Banking-Agencies-Encourage-Innovative-Approaches-to-BSA-AML-Compliancewww.mofo.com/resources/publications/181214-bsa-aml-compliance.htmlus.eversheds-sutherland.com/NewsCommentary/Legal-Alerts/216263/Legal-Alert-FinCEN-federal-banking-regulators-push-for-private-sector-innovation-in-BSAAML-compliance www.omm.com/resources/alerts-and-publications/alerts/federal-regulators-issue-joint-statement-encouraging-banks-to-use-innovative-technologies/ www.srz.com/resources/federal-banking-regulators-issue-joint-statement-encouraging.html Click to access Joint%20Statement%20on%20Innovation%20Statement%20%28Final%2011-30-18%29_508.pdf www.consumerfinancialserviceslawmonitor.com/2023/05/ai-impact-and-use-in-the-financial-services-industry-crossover-episode-with-regulatory-oversight-podcast/#page=1SEC Proposes AI Rules for Broker-Dealers and Advisers After Chair’s Warnings | BakerHostetler (bakerlaw.com) 0
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Money Laundring, Regulatory, US Banking, China, Regulatory Guernsey, Regulatory Ireland, Regulatory

US: OCC policy and procedure update on institution-affiliated party enforcement actions

buckleysandler.com/blog/2018-11-16/occ-policy-and-procedure-update-addresses-institution-affiliated-party-enforcement-actions www.sullcrom.com/national-bank-enforcement-occ-issues-new-and-revised-policies-and-procedures-manuals-for-enforcement-actions www.paulhastings.com/publications-items/blog/ph-privacy/ph-privacy/2019/06/07/occ-warns-banks-manage-cybersecurity-risk-when-partnering-with-third-party-service-providers Update: www.lplegal.com/content/top-banking-regulator-warns-increased-ransomware-attacks.html 0
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Regulatory, UK Hong Kong, Regulatory, Risk Management