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Results: 1-9 of 9

FinCEN E-Filing reminder

Winston & Strawn LLP
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USA
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September 17 2012

On September 13th, FinCEN advised that the BSA E-Filing system is now functioning properly and it has begun an initiative to contact those institutions that are continuing to file FinCEN reports in paper format

While homeowners' policy covered Ponzi scheme losses, homeowners didn't suffer any losses

Winston & Strawn LLP
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USA
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August 20 2012

On August 15th, the Second Circuit affirmed the dismissal of claims asserted by victims of Bernie Madoff's Ponzi scheme against their homeowner's insurance policy which included a "Fraud Safeguard" endorsement

Registered rep's theft of customer funds was a covered loss

Winston & Strawn LLP
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USA
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August 7 2012

On August 1st, the Sixth Circuit affirmed the district court's liability determination in an insurance coverage dispute

BSA E-Filing notice

Winston & Strawn LLP
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USA
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July 23 2012

On July 17th, the Financial Crimes Enforcement Network ("FinCEN") acknowledged difficulties financial institutions may have recently experience when e-filing required reports

FinCEN seeks comments on possible customer due diligence obligation

Winston & Strawn LLP
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USA
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March 5 2012

On February 29th, the Financial Crimes Enforcement Network issued an advanced notice of proposed rulemaking to solicit public comment on questions pertaining to the possible application of an explicit customer due diligence obligation on financial institutions, including a requirement for financial institutions to identify beneficial ownership of their accountholders

Homeowner's insurance does not cover Ponzi scheme losses

Winston & Strawn LLP
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USA
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February 21 2012

On February 16th, the Second Circuit held that a homeowner's insurance policy does not cover losses suffered in a Ponzi scheme

FCPA monitors

Winston & Strawn LLP
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USA
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July 18 2011

On July 11th, CFO.com summarized what firms can expect from a compliance monitor appointed after the settlement of Foreign Corrupt Practices Act charges

UK Financial Services Authority scrapped, potential restriction and splitting of banking and new economic crime agency focusing on white-collar crime

Winston & Strawn LLP
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United Kingdom
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June 17 2010

Yesterday, the UK government announced a complete overhaul of the financial services industry in the UK, increased focus on white-collar crime, and a review, with possible reform, of the banking industry

Separate court case required to determine D&O coverage for former Stanford Bank executives

Winston & Strawn LLP
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USA
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March 22 2010

On March 16th, the Fifth Circuit held that a separate parallel coverage action was required to determine whether D&O insurers were required to pay for the defense of individual defendants in the cases stemming from the alleged Ponzi scheme perpetrated by R. Allen Stanford