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United States pours more pressure on Myanmar military junta By Jay Jackson, Pittsburgh Star 03 Jul 2021, 17:02 GMT+10 The U.S. on Friday sanctioned 22 people in Myanmar, including fifteen children and spouses. Wanbao Mining, Ltd., and King Royal Technologies have also been targeted. "In response to the brutal campaign of violence perpetrated by the Burmese military regime and to continue imposing costs in connection with the military coup.... " WASHINGTON, DC - The U.S. on Friday sanctioned 22 people in Myanmar, including fifteen children and spouses of military officials deemed to be corrupt...

The Office of the Chief Accountant of the SEC's Division of Investment Management periodically issues "Dear Chief Financial Officer" letters to help registered investment companies...

To print this article, all you need is to be registered or login on Mondaq.com. As virtual assets explode in value, use, and popularity, governments around the world are taking notice, increasing sanctions-related scrutiny of companies that provide related services and focusing regulatory and enforcement oversight on these emerging systems. In recent years, the U.S. government has taken targeted enforcement action against virtual asset service providers (VASPs) that either engage in illicit activity or fail to put into place compliance programs that effectively mitigat...

To print this article, all you need is to be registered or login on Mondaq.com. Recently, the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") sanctioned various individuals and entities connected to Russia's technology sector and also expanded sanctions against dealings in Russian sovereign debt.  In addition to these immediate actions, President Biden also issued a new Executive Order which will significantly expand OFAC's authority to impose future sanctions against Russia. Background The White House published a Fact Sheet which explains the rec...

To print this article, all you need is to be registered or login on Mondaq.com. The Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Treasury Department, has proposed a new rule to bring convertible virtual currencies (CVC) and legal tender digital asset transactions (LTDA) within the existing anti-money laundering (AML) and "know your customer" (KYC) regulatory framework under the Bank Secrecy Act (BSA). Specifically, the proposed rule would add a determination that CVCs and LTDAs constitute monetary instruments for the purposes of 31 U.S.C. 531...