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Results: 1-7 of 7

Department of the Treasury issues Bank Secrecy Act advance notice of proposed rulemaking relating to customer due diligence requirements for financial institutions

  • Gibson Dunn & Crutcher LLP
  • -
  • USA
  • -
  • April 11 2012

On March 5, 2012, the United States Department of the Treasury ("Treasury"), Financial Crimes Enforcement Network ("FinCEN"), published an Advance Notice of Proposed Rulemaking ("ANPR") seeking comments on the concept of prescriptive rules for customer due diligence ("CDD") for certain financial institutions (and potentially all financial institutions) under the Bank Secrecy Act ("BSA"

FinCEN issues final rule implementing new CISADA regulations to require U.S. banks to seek information from foreign correspondent banks regarding financial ties to Iran

  • Gibson Dunn & Crutcher LLP
  • -
  • Iran, USA
  • -
  • November 1 2011

On October 11, 2011, the United States Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN)" published in the Federal Register the final version of new regulations implementing section 104(e) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 ("CISADA"

U.S. SEC extends the customer identification program no-action letter for broker-dealers and changes the terms

  • Gibson Dunn & Crutcher LLP
  • -
  • USA
  • -
  • February 17 2011

On January 11, 2011, the US Securities and Exchange Commission ("SEC"), in consultation with the Department of the Treasury, Financial Crimes Enforcement Network ("FinCEN"), again extended the Bank Secrecy Act ("BSA") Customer Identification Program ("CIP") no-action letter (initially issued in 2004) relating to broker-dealer reliance on SEC registered investment advisers ("RIAs"

U.S. Financial Crimes Enforcement Network issues guidance regarding recent events in Tunisia

  • Gibson Dunn & Crutcher LLP
  • -
  • Tunisia, USA
  • -
  • January 26 2011

A popular uprising ended the 23-year-old regime of former Tunisian president Zine El Abidine Ben Ali, who recently fled to Saudi Arabia

FinCEN proposes reporting of cross-border electronic transmittals of funds

  • Gibson Dunn & Crutcher LLP
  • -
  • USA
  • -
  • October 12 2010

On September 30, 2010, the United States Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) published in the Federal Register its long-awaited notice of proposed rulemaking (NPRM) that would require certain banks and money transmitters to report to FinCEN transmittal orders associated with certain cross-border electronic transmittals of funds (CBETFs

Iran sanctions: U.S. Treasury issues Iranian Financial Sanctions Regulations

  • Gibson Dunn & Crutcher LLP
  • -
  • Iran, USA
  • -
  • August 24 2010

On August 16, 2010, the United States Department of the Treasury issued the Iranian Financial Sanctions Regulations ("the IFSR"), 75 Fed. Reg. 49,836, to implement subsections 104(c) and 104(d) of the recent Comprehensive Iran Sanctions Accountability and Divestment Act of 2010 ("CISADA"

Iran sanctions legislation: new controls and penalties for U.S. financial institutions

  • Gibson Dunn & Crutcher LLP
  • -
  • USA
  • -
  • July 28 2010

On July 1, 2010, President Obama signed the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010 ("CISADA"), which amends and extends sanctions imposed under the Iran Refined Petroleum Sanctions Act of 2009 and the Iran Sanctions Act of 1996 (formerly the Iran and Libya Sanctions Act of 1996