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26 results found

Article

Manatt Phelps & Phillips LLP | USA | 5 Jun 2019

Slow burn: California makes another attempt to pass a marijuana bank bill

The movement to provide a limited bank charter to serve marijuana businesses in California inched forward when the California Senate approved SB 51

Article

Manatt Phelps & Phillips LLP | USA | 22 May 2019

State AGs, ABA Back Bill On Financial Services For Cannabis

Support continues to build for the Secure and Fair Enforcement (SAFE) Banking Act, with a coalition of 38 state and territorial Attorneys General as

Article

Manatt Phelps & Phillips LLP | USA | 10 Apr 2019

Cannabis Banking Bill Moves Forward

Legislation on cannabis banking continues to make its way through the House of Representatives, with one bill garnering approval by the Financial

Article

Manatt Phelps & Phillips LLP | USA | 24 Oct 2018

Federal Banking Agencies Encourage BSAAML Collaboration

Community banks and smaller financial institutions take note: the five federal banking agencies are encouraging banks and credit unions to enter into

Article

Manatt Phelps & Phillips LLP | USA | 14 Apr 2016

Prepaids in Focus: Federal Regulators Clarify CIP Rules

The federal banking agencies and the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) have issued guidance to

Article

Manatt Phelps & Phillips LLP | USA | 14 Apr 2016

Repeat BSA Violations Cited for Two FinCEN Fines

Repeat violations of the Bank Secrecy Act (BSA) are cited by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) for a

Article

Manatt Phelps & Phillips LLP | USA | 11 Mar 2016

$6.5M Fine for Persistent BSAAML Failures: Prelude to OCC's Announcement of Tougher Enforcement Environment

A $6.5 million civil money penalty imposed against a $1.57 billion Florida bank for persistent anti-money Laundering (AML) and Bank Secrecy

Article

Manatt Phelps & Phillips LLP | USA | 4 Feb 2016

Can New Beneficial Owner Identification Requirement for Cash-Only Real Estate Deals in Miami and New York City Be Avoided if Virtual Currency Is Used?

After years of concern about money laundering through shell corporations, repeated legislative and regulatory efforts to gain more information on

Article

Manatt Phelps & Phillips LLP | USA | 17 Sep 2015

FinCEN seeks to add investment advisers to BSAAML regulation

More than 12 years after initially proposing to extend the Bank Secrecy Act's anti-money laundering compliance programs and recordkeeping and

Article

Manatt Phelps & Phillips LLP | USA | 17 Sep 2015

FinCEN action against casino for weak AML compliance efforts should not be ignored by othersespecially digital currency companies

FinCEN's $8 million civil money penalty imposed on Caesars Palace for "willful and repeated" violations of the BSA sends a signal that failure to

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