NFA proposed an amendment to an interpretive notice on AML compliance procedures to clarify the obligations of certain introducing brokers under a written Customer Identification Program and Beneficial Ownership regulations.
The CFPB extended the comment deadline an additional 60 days on a supplemental rule proposal to amend certain requirements on the collection of time-barred debts. The new comment deadline is August 4, 2020.
The FINRA National Adjudicatory Council affirmed findings against a broker-dealer firm and its general securities representatives for violating short sales regulations and failing to comply with AML requirements.
The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The DOJ charged a U.S. citizen with violating the International Emergency Economic Powers Act after traveling to the Democratic People's Republic of Korea and speaking at a Pyongyang cryptocurrency conference.