FinCEN extended the date for certain Report of Foreign Bank and Financial Accounts ("FBAR") filings until April 15, 2023. The extension applies to certain U.S. persons with authority over foreign financial accounts.
FinCEN issued a request for information seeking feedback on ways to "streamline, modernize, and update" anti-money laundering and countering the financing of terrorism regulations and guidance under the Bank Secrecy Act.
A broker-dealer settled SEC charges for (i) the offer and sale of unregistered microcap securities, and (ii) failure to file suspicious activity reports for transactions it executed as agent for one of its offshore customers.
FinCEN published in the Federal Register an advance notice of proposed rulemaking on additional Bank Secrecy Act information collection and reporting requirements applicable to cash-based real estate transactions. Comments are due by February 7, 2022.
Nearly a year after the Corporate Transparency Act of 2020 enacted vast new beneficial ownership reporting requirements for many legal entities, FinCEN proposed rules effectuating the law.
FinCEN solicited comment on potential Bank Secrecy Act information collection and reporting requirements "on certain persons participating in transactions involving non-financed purchases of real estate."
The Federal Financial Institutions Examination Council added one section and updated three sections along with their respective examination procedures in its Bank Secrecy Act / AML Examination Manual.
Deputy Treasury Secretary Wally Adeyemo outlined the need for public-private sector collaboration to address the national security risks arising from the expanding digital asset industry.
The Financial Action Task Force updated its "Virtual Assets and Virtual Asset Service Providers" guidance for national authorities and private entities on money laundering and terrorist financing concerns arising from virtual asset activities.
