CUSIP Global Services Receives Accreditation Renewal For CUSIP Identifier As U.S. Standard For Unique Security Identification - American National Standards Institute (ANSI) X9 Committee Recognizes CUSIP As American National Standard Date
19/01/2021
CUSIP Global Services today announced the renewal of the accreditation of the CUSIP identifier as the American national standard for unique securities identification. The five-year accreditation was issued by the American National Standards Institute (ANSI), a private, non-profit organization that administers and coordinates the U.S. voluntary standards and conformity assessment system, through its Accredited Standards Committee X9 (X9).
The CUSIP is a nine-character alphanumeric security identifier that captures the unique attributes of issuers and their financial instruments throughout the U.S. and Canada. For over five decades, the CUSIP system has been widely recognized as the standard identifier for U.S. securities. The ANSI
Evaluating HSA Providers
What employers should ask to make sure they choose the right health savings account (HSA) provider for their employees.
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Choosing employee benefit service providers is a fiduciary act, and employers need to know what to ask to keep participants’ best interest in mind. This applies not only to retirement plans, but to health savings accounts (HSAs) as well.
Steve Neeleman, founder and vice chairman at HealthEquity, says it’s important to start with the basics. Plan sponsors should ask how long the company has been in business and whether HSA administration is its primary business. “A lot of banks do this on the side,” Neeleman explains. “I feel companies that do a few things well are better at it than a jack-of-all-trades.”
By Aaron Nicodemus2021-01-19T19:25:00+00:00
Congress has ordered a reassessment of the Bank Secrecy Act anti-money laundering (AML) program as part of the National Defense Authorization Act (NDAA) for Fiscal Year 2021 (H.R.6395).
The bill includes a “formal review” of BSA rules regarding the filing of suspicious activity reports (SARs) by financial institutions. Also included are separate AML provisions that pull back the veil on anonymous shell corporations and establish a BSA whistleblower program with financial rewards for tipsters whose information leads to a conviction.
In an ideal world, the U.S. Treasury and the Financial Crimes Enforcement Network (FinCEN) use the information gleaned from SARs to either launch investigations into criminal activity like money laundering or hand off the information contained in the reports to agencies better suited to handle them. For example, FinCEN regularly refers information collected in SARs regarding tax evasion to the Internal Re