Tags » Financial Services Law

Get the FATCA Outta Here? Not Likely. - Foreign Account Tax Compliance Act

Despite several delays, it seems almost certain that the “Foreign Account Tax Compliance Act”1 (FATCA) will finally go into effect on July 1, 2014. 1,621 more words

Administrative & Regulatory

Digital Currency Identified as an “Emerging Risk” in the Canadian Federal Government’s 2014 Budget

On February 11, 2014, the Canadian Federal Government released its 2014 Budget. In the 2014 Budget, the Federal Government pledged to introduce legislative amendments to strengthen Canada’s anti-money laundering and terrorist financing regime in the area of virtual (digital) currency. 595 more words

Financial Services Law

UK Financial Conduct Authority (FCA) Issues First Fine Under New Anti-Money Laundering Regime

Financial Conduct Authority fines Standard Bank £7.6 million for failures in its anti-money laundering controls, underlining the importance of both having and implementing adequate policies in relation to money laundering. 730 more words
Financial Services Law

JPMorgan Chase Pays $614 Million for Submitting False Claims in Mortgage Loans Case

The Department of Justice (DOJ) announced last week that JPMorgan Chase, the largest bank and financial institution in the country, will pay a $614 million settlement to the US government to resolve allegations that it approved thousands of unqualified home mortgage loans for government insurance and refinancing. 435 more words

Financial Services Law