In an administrative ruling, FinCEN clarified that broker-dealers were required to collect information when opening new accounts for customers who receive assets as the beneficiary of an estate.
News & Insights
Two affiliated broker-dealers settled FINRA charges for lacking reasonable cybersecurity controls at branch offices. The failures resulted in multiple incidents that exposed thousands of customers' personal information.
The U.S. District Court for the Northern District of Alabama held the Corporate Transparency Act unconstitutional.
The National Security Division and the Department of Justice requested comment on potential rulemakings related to the implementation of U.S. President Joseph R. Biden's Executive Order authorizing the Attorney General to take actions to prevent the transfer of Americans’ personal data to countries of concern.
An international commodities trading company pled guilty and paid monetary penalties to resolve DOJ charges for violating the Foreign Corrupt Practices Act. The company had been charged with bribing then-public officials of an Ecuadorian state-owned oil company to secure business advantages and contracts.