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To embed, copy and paste the code into your website or blog: Eighth Blog Post in an Extended Series on Legislative Changes to the BSA/AML Regulatory Regime As we have blogged, the Anti-Money Laundering Act of 2020 (“AMLA”) contains major changes to the Bank Secrecy Act (“BSA”), coupled with other changes relating to money laundering, anti-money laundering (“AML”), counter-terrorism financing (“CTF”) and protecting the U.S. financial system against illicit foreign actors.   In this post, we review several provisions of the AMLA section entitled “Modernizing the Anti-Money ...

Sixth Post in an Extended Series on Legislative Changes to BSA/AML Regulatory Regime As we have blogged, the Anti-Money Laundering Act of 2020 (“AMLA”) contains major changes to the Bank Secrecy Act (“BSA”), coupled with other changes relating to money laundering, anti-money laundering (“AML”), counter-terrorism financing (“CTF”), and protecting the U.S. financial system against illicit foreign actors. A recurring theme of the changes offered by AMLA is information sharing. AMLA mandates that the Department of Treasury’s supervision priorities must include “appropriate f...

In addition to these changes, Congress also has used the AMLA as a tool to gather information on complex issues involving money laundering risks and BSA/AML compliance by requiring many studies and reports.  In this post, we focus on two important issues for which Congress has required reports from the Government Accountability Office (“GAO”):  human trafficking and de-risking. The willingness to address these problems through the AMLA shows that Congress is aware of the nexus between money laundering and human rights violations—and more importantly, appears ready to leverage the inf...

Delek US Holdings Reports Fourth Quarter 2020 Results -- Underlying cost improvements and capital reductions across the portfolio position the company well for 2021 -- COVID-19 vaccination uptake provides an increasing demand backdrop going forward -- Robust outlook for the retail segment with line of sight for strong growth potential -- "Capital light" approach to renewable diesel with $13 million option to acquire a one-third economic interest in GCE Holdings Acquisitions -- Expecting another 5% distribution growth year-over-year at Delek Logistics in 2021 News provided by Share this articl...