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Understanding Tax Reporting for U.S. Citizens Living Abroad U.S. citizens move abroad for lots of different reasons—a better quality of life in retirement, a career opportunity, to explore, or for love of a particular person or place—but all expats share one very important trait: a sense of adventure. However, moving abroad involves lots of logistical planning, and financial considerations should always feature near the top of the list, including the requirement that U.S. citizens must still file U.S. taxes after their move overseas. U.S. Tax Rules for U.S. Citizens Living Abroad The U.S....

To print this article, all you need is to be registered or login on Mondaq.com. This year has brought several important sweeping regulatory changes in the United States, including the most substantive Bank Secrecy Act (BSA)/anti-money laundering (AML) reform since the U.S. PATRIOT ACT of 2001. With these changes already underway, regulators and law enforcement are expected to concurrently increase AML enforcement efforts. The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has already started to engage in significant undertakings related...

In Short The Situation:  The Securities and Exchange Commission's Division of Examinations ("EXAMS") released a Risk Alert on March 29, 2021, reminding broker-dealers of their obligation to comply with anti-money laundering ("AML") requirements imposed by the Bank Secrecy Act ("BSA") and related regulations—in particular, those relating to the filing of Suspicious Activity Reports ("SARs"). The Result:  The Risk Alert highlighted deficiencies observed by EXAMS and encouraged broker-dealers to review and improve their AML policies, procedures, and controls related to the monitoring and r...

Even with its Director, Kenneth Blanco, departing this week, the Financial Crimes Enforcement Network (FinCEN) has been active in taking steps to implement the Anti-Money Laundering Act of 2020...

WhatsApp THE LIST of complaints against the leading web platforms runs long, from privileging their own products and operating both sides of an advertising exchange, to ignoring the problems that result from their activities. Applying conventional rules like antitrust law is difficult, since it is hard to show consumer harm when the service is free. But there is another way to regulate big tech: treat the companies like big banks. The American banking industry learned much from the financial crisis of 2008, the regulatory crackdown and the collapse of return on equity as banks had to build up...