The Senate Banking Committee considered testimony on the "serious concern" caused by an International Association of Insurance Supervisors' consultative document on global insurance regulations and supervisory forums.
The DOJ and U.S. Attorney's Office for the Eastern District of New York closed an investigation of a Barbados insurance company after the company agreed to disgorge profits obtained in connection with alleged violations of the Foreign Corrupt Practices Act.
New York Department of Financial Services Superintendent Maria Vullo reminded all DFS-regulated entities covered by DFS's cybersecurity regulation that the third transitional period of New York's "first-in-the-nation" cybersecurity regulation terminates on September 4, 2018.
The Financial Crimes Enforcement Network ("FinCEN") expanded its efforts to combat money laundering in the luxury residential real estate market. FinCen also issued guidance on the risks associated with "all-cash" transactions in that market.