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On hold - Iran
Since the 2015
nuclear agreement between Iran and the USA, UK, Russia, France, China, Germany
and the European Union (EU), foreign financial institutions have, in theory, been
allowed to do business with Iran. But the reality – as ever..
Online Published Date:
02 May 2018
Appeared in issue:
254 - 01 June 2018
UK Parliament vote heralds public beneficial ownership registers in British overseas territories
By Keith Nuthall
Online Published Date:
02 May 2018
Appeared in issue:
254 - 01 June 2018
Danske Bank censured for AML breaches in Estonia and ordered to increase prudential capital
Danske Bank has been severely criticised by Finanstilsynet, the Danish Financial Supervisory Authority (FSA) for lax or absent anti-money laundering controls at its Estonian branch. [1]All three lines of defence – the business, risk management..
Online Published Date:
04 May 2018
Appeared in issue:
254 - 01 June 2018
Hong Kong – official ML/TF risk assessment published ahead of FATF evaluation
By Keith Nuthall
Online Published Date:
08 May 2018
Appeared in issue:
254 - 01 June 2018
Unwelcome returns – Trinidad & Tobago meets foreign terrorist fighter and criminal finance threats [Video]
The southern Caribbean is not immune to terrorism as arrests in Trinidad & Tobago earlier this year of locals suspected of fighting with IS in Syria and Iraq attest. Melissa Williams-Sambrano spoke to Susan François, Director of the..
Online Published Date:
15 May 2018
Appeared in issue:
254 - 01 June 2018
US money service rules bite on Canadian crypto exchange
Selva Ozelli, CPA is an international tax attorney who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD. This article first appeared on The FCPA Blog (www.fcpablog.com)
Online Published Date:
15 May 2018
Appeared in issue:
254 - 01 June 2018
US withdraws from Iran deal, re-primes sanctions
Jonathan Cross (+1 917 542 7824, jonathan.cross@hsf.com) is of Counsel and Geng Li (+1 917 542 7828, geng.li@hsf.com) is an associate with Herbert Smith Freehills in New York.
Online Published Date:
15 May 2018
Appeared in issue:
254 - 01 June 2018
Commercial limits – Iran [Video]
Iran may have signed up to the Joint Collective Plan of Action (JCPOA) in 2015 but major western financial institutions, if not wider business, have chosen not to re-engage with the Islamic Republic while US primary sanctions remain in place...
Online Published Date:
15 May 2018
Appeared in issue:
254 - 01 June 2018
EU ministers approve Fifth ML Directive
The European Union (EU) Council of Ministers yesterday [14 May]
approved the Fifth Money Laundering Directive (5MLD) reforms it informally
agreed with the European Parliament last December (2017). [1]This key formal vote will trigger..
Online Published Date:
16 May 2018
Appeared in issue:
254 - 01 June 2018
Chardan, broker-dealer fined $1m, AML officer $15,000 for penny stock reporting failures
Chardan Capital Markets LLC, a broker-dealer has been fined $1m [1] by the US Securities and Exchange Commission, and Jerard Basmagy, its AML officer, $15,000 together with a three-year industry ban [2], for executing transactions in penny stocks..
Online Published Date:
22 May 2018
Appeared in issue:
255 - 01 July 2018
ICBC Financial Services pays FINRA $5.3m for penny stock monitoring flaws
Industrial and Commercial Bank of China Financial Services
LLC, a broker-dealer, has been fined $5.3m by FINRA in the US for “systematic
AML compliance failures”, after not properly detecting and investigating
potentially suspicious..
Online Published Date:
22 May 2018
Appeared in issue:
255 - 01 July 2018
Bear hug – Russian finance in the UK
“You have to understand that Russia is an absolute kleptocracy,” anti-corruption campaigner Roman Borisovich told the UK House of Commons Foreign Affairs Committee in March [2018], his quote repeated in its forthright analysis of how..
Online Published Date:
29 May 2018
Appeared in issue:
255 - 01 July 2018