Two lawmakers urge Yellen to expand AML reporting obligations to private equity and hedge fund advisors Wednesday, May 05, 2021
B. G., Opalesque Geneva:
Two Democratic lawmakers have sent a letter to the U.S. Secretary of the Treasury Janet Yellen, urging the Department to expand anti-money laundering reporting obligations to private equity and hedge fund advisors. Congressman Tom Malinowski and Senator Sheldon Whitehouse also recommend other specific actions the Secretary can immediately take under current authorities to prevent foreign kleptocrats from moving dirty money through the U.S. and global financial systems.
Last year, Congress enacted the Corporate Transparency Act, which effectively bans the registration of anonymously owned shell companies in the U.S., says Malinowski s website. The Biden Administration has pledged to build on this achievement by making the fight against transnational corruption a key element of its foreign policy. To that end, it recently req
FATF and the future of decentralised finance
Lewis Cohen, co-founder of DLx Law, discusses the Financial Action Task Force’s draft revised guidance on the recommended risk-based approach applicable to entities engaging in activities involving virtual assets April 12 2021
The Financial Action Task Force (FATF) is the international
body that coordinates the development of international standards on combating
money laundering and the financing of terrorism and weapons proliferation. FATF
implements these standards through a series of recommendations to national
governments, who are ultimately responsible for their implementation.
On March 19 2021, FATF published a draft of its upcoming
revised guidance (the draft guidance) on the recommended risk-based approach
Hotel Lawyer: New rules for anti-money laundering compliance? FinCEN seeks comments on new Federal Anti-Money Laundering Law hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.
FinCEN Signals Suspicion of Art Market Even Before AML Study Begins | Sullivan & Worcester jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Blog after blog, commentator after commentator, and everyone else who has an opinion has been repeating the same message – the Biden Administration is going to increase enforcement.