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.
News & Insights
FinCEN updated its list of Financial Action Task Force identified jurisdictions found to have strategic AML/CFT deficiencies.
U.S. President Joseph R. Biden issued an Executive Order authorizing the Attorney General to take actions to prevent the transfer of Americans’ personal data to countries of concern.
The House Financial Services Committee, Subcommittee on Digital Assets, Financial Technology and Inclusion considered the gaps in regulatory and enforcement efforts to combat the use of crypto-currency by bad actors.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.